Baghdad (IraqiNews.com) – Iraqi Prime Minister Mohammed Shia al-Sudani instructed on Wednesday the creation of a national team to improve the country’s credit rating.
According to a statement released by the Prime Minister’s Office (PMO), the step represents part of the government’s efforts to strengthen Iraq’s financial and economic standing internationally.
The team is led by the Governor of the Central Bank of Iraq (CBI), Ali al-Alaq, and includes officials from Iraq’s Ministries of Finance, Oil, and Planning, as well as significant economic and financial organizations.
The team will develop an integrated strategy with clear objectives, submit reports to the relevant authorities, and directly coordinate with major international credit rating agencies, particularly Fitch, S&P Global Ratings, and Moody’s, to improve Iraq’s credit rating.
The team will also focus on enhancing governance mechanisms, controlling financial risks, and creating a business climate that is consistent with the government’s economic reform initiatives.
The step is part of the government’s goal to implement a comprehensive national strategy aimed at boosting Iraq’s sovereign credit rating, increasing international trust in the national economy, and expanding opportunities for direct and indirect foreign investment.
Additionally, the move demonstrates a strong commitment to the Iraqi government’s strategy for achieving economic stability, supporting financial system stability, and creating an appealing investment climate that contributes to diversifying sources of revenue and reducing reliance on oil.
