6. [Iraqi Prime Minister Meets Turkish Company Delegation] On Thursday, Prime Minister Mohammed Shia' Sudani received a delegation from the Turkish company Limak—specializing in transportation and construction projects—led by its founder, Mr. Nahad Ouzdemir. During the meeting, the Prime Minister highlighted investment and development opportunities for the company in Iraq, particularly in infrastructure and transport projects—including road development, the Grand Faw Port project, bridges, and industrial cities. He reaffirmed the government’s welcoming stance toward companies possessing advanced technology and proven execution expertise, emphasizing that Iraq’s investment environment has become increasingly promising, dynamic, and open—especially amid ongoing financial, administrative, and banking reforms, and as the private sector prepares to establish productive partnerships with global firms. 7. [Iraq Participates in International Monetary Fund (IMF) Meeting] An Iraqi delegation led by Finance Minister Taif Sami Mohammed held discussions with IMF experts in Amman, Jordan, from February 27 to 29 during the Fourth Article IV Consultation. The discussions centered on Iraq’s reform agenda, focusing on fiscal and banking policies, digital infrastructure, financial inclusion, public debt issues, and measures to mitigate the economic impact of international conflicts. The delegation also discussed plans to increase non-oil revenues, strengthen coordination between fiscal and monetary policies, and implement joint programs with the IMF supporting Iraq’s economic reforms—aimed at achieving financial stability, improving budget planning, and sustaining development projects. According to a statement from the Ministry of Finance, the IMF delegation commended the government’s measures to improve the business environment and stimulate investment, and noted Iraq’s progress in non-oil GDP growth and public financial management. They underscored the importance of maintaining economic stability and supporting social protection, and expressed appreciation for significant achievements in lowering inflation, improving the balance of payments, promoting economic diversification, and fostering private-sector-led job creation. According to the Ministry of Finance, the Iraqi delegation—led by Finance Minister Taif Sami—concluded discussions in Amman, Jordan, with the IMF’s Article IV mission experts, covering numerous topics including implementation of the economic reform program and progress achieved. The Iraqi government’s efforts in developing infrastructure, ensuring fiscal sustainability, and increasing non-oil revenues were also highlighted. 8. [Prime Minister Sudani Meets Delegation from Dhi Qar Provincial Government] On Thursday, Iraqi Prime Minister Mohammed Shia' Sudani met with a legislative and executive delegation from Dhi Qar Province’s local government to discuss the province’s needs and projects. Abdul Bazei Al-Omari, Speaker of the Dhi Qar Provincial Council, told Shafaq News Agency: “The Prime Minister instructed that Dhi Qar be allocated a higher share of work assignments in the next phase,” and urged the central government to pay special attention to Dhi Qar. Al-Omari added that the Prime Minister informed local government members about “an upcoming large-scale oil project to be launched in Dhi Qar—the first of several such oil projects planned across other provinces—which will focus on petrochemicals and natural gas industries and will be implemented by a Russian company near the province’s oil fields.”

Baohui Financial Holdings: IMF Advances Reform of Loan Framework to Enhance Flexibility and Targeting of Assistance Programs

The International Monetary Fund (IMF) Executive Board has recently completed a new round of the ‘Program Design and Conditionality Review,’ systematically reviewing the implementation experience of member countries’ assistance programs over recent years. The IMF stated that, given heightened uncertainty in the global economic outlook, it will introduce a series of targeted reform measures to make assistance arrangements more flexible and precise—helping countries in need fundamentally improve their balance-of-payments positions. Learning from Experience: Building Resilience Amid Multiple Challenges During this review period, the global economy faced successive shocks—including the public health crisis, geopolitical conflicts, and rapid price increases. The IMF Executive Board concluded that past assistance programs responded relatively swiftly under continuous shocks, helping member countries avoid excessively sharp pro-cyclical adjustments. At the same time, countries with weaker economic fundamentals or those needing further policy implementation capacity still require additional time and effort to restore medium-term external sustainability. Based on these lessons, the IMF will substantially update its existing ‘Conditionality Guidelines,’ optimizing the overall architecture of assistance terms so that financing can better serve as a ‘catalyst’ to mobilize broader external financing. Four Key Reform Priorities First, strengthening policy coherence. The IMF reiterates the critical role of fiscal adjustment in stabilizing the macroeconomy; where feasible, such adjustments may be accelerated and paired with practical, growth-friendly reform measures. It will also pilot medium-term structural reform strategies to clarify the priority sequence among various structural conditions. Second, introducing dynamic risk management. The IMF will more widely adopt risk-based forecasting methods, supplemented by sensitivity and scenario analyses. For higher-risk cases, it will more fully utilize enterprise risk assessment tools and continuously monitor gaps between actual performance and initial targets—enabling timely policy recalibration. Third, enhancing financing and debt monitoring. Assistance programs will be grounded in more realistic and coherent assumptions regarding both domestic and external financing, and risk-based monitoring of priority debt will be strengthened. This aims to guide member countries to prioritize fundamental reforms alongside borrowing.

Iraq Seeks IMF Program, Fund Chief Pledges 'Firm' Support

23 hours ago

Iraq has requested IMF financial support due to lost oil export revenue caused by Strait of Hormuz tensions, following a 13% currency devaluation.

bloomberg

2026-10-06

Iraq Devalues Currency as Hormuz Disruption Hits Oil Exports

2026-10-16

Iraq Seeks IMF Program, Fund Chief Pledges 'Firm' Support

Iraq Seeks IMF Program, Fund Chief Pledges 'Firm' Support

FAQ