IMF: Iraq is financially stable and does not need aid
The Director of the Middle East and Central Asia at the International Monetary Fund, Jihad Azour, confirmed that Iraq does not need financial aid like that provided to “fragile” countries, because “it does not suffer from a deficit in the balance of financing.”
Jihad Azour pointed out, in a press interview on the sidelines of the World Government Summit held in Dubai, that the International Monetary Fund’s support for Iraq is limited to “technical assistance.”
In this context, he explained that the Fund provides assistance to the Ministry of Finance in modernizing public financial management, and also provides assistance to the Central Bank of Iraq to improve its structure and monitor the financial sector.
“The world is changing, and the region is witnessing great development. We have provided assistance to fragile countries that are going through crises, and we have a strategy for this purpose. As for the region, we are participating in supporting fragile countries, especially due to conflicts. Currently, our fund is studying the effects of these conflicts and tensions, as these countries need such studies to improve their internal situations after the war, and through them they seek to attract the attention of the countries of the region and the international community to help them improve their economies,” he added.
He continued: “We have an active relationship with Iraq and the economic situation of Iraq does not require that, because it does not suffer from a deficit in the balance of financing, but we provide it with technical assistance. We are helping the Ministry of Finance to modernize public financial management, and we are also providing assistance to the Central Bank of Iraq to improve its structure, and monitor the financial sector, in addition to a number of other important updates to increase competitiveness in the Iraqi economy.
A broad campaign to promote the culture of electronic payment in Iraq
The “Asraflak” campaign, which aims to spread the culture of electronic payment in Iraq, announced based on the decision of the Council of Ministers and the directives of Prime Minister Mohammed Shia Al-Sudani to intensify the campaign’s efforts to spread the culture of awareness of electronic payment.
A statement by the campaign said, “There are intensive and continuous meetings with the relevant authorities in order to spread the culture of electronic dealing in all fields, especially the banking aspect, to protect the Iraqi people’s money from theft or forgery, as well as to reduce embezzlement of funds.”
It explained, “The campaign was launched in August of last year to spread the culture of electronic payment in Iraq based on the electronic payment services system issued by the Council of Ministers’ decision for the year 2024, and it is the first awareness campaign to go down to the Iraqi street to raise awareness of electronic payment.”
The statement continued, “The campaign wants to bring the Iraqi people to the peak of awareness of this campaign in order to keep pace with the countries of the world in terms of dealing with electronic payment.”
He stressed that “there is a great response speed from Iraqis to deal with this method and an increase in the number of users of electronic payment as it is an easy and convenient means of payment, pointing out that the campaign held conferences and forums with the participation of the governing bodies to mature it.”
