2024-02-29T12:37:05+00:00
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/ The Worldwide Financial Fund indicated a “important decline” in inflation charges, which was mirrored within the decline in meals and vitality costs, along with the steadiness of the overseas change market in Iraq, in line with what was introduced by the Ministry of Finance.
The ministry stated in a press release that an Iraqi delegation headed by Finance Minister Taif Sami concluded its discussions with the Article IV mission of the Worldwide Financial Fund specialists in Amman at the moment, Thursday. Through the discussions, the implementation of the financial reform program and the enhancements achieved by the Iraqi authorities within the area of growth infrastructure, monetary sustainability and maximizing non-oil revenues have been reviewed.
The assertion quoted the delegation as confirming that the Fund promised to assist growth programmes to advance public monetary administration, digital transformation, banking, retirement and customs sectors, and to boost personal sector participation efforts by way of funding incentives, infrastructure and reconstruction, indicating its intention to proceed discussions and consultations in the course of the Fund’s periodic annual conferences.
The assertion added that the Fund’s mission praised “the robust return of development within the non-oil sector throughout 2023, with a noticeable decline in inflation charges, and that is mirrored within the decline in meals and vitality costs.”
In line with the assertion, the mission “famous the optimistic developments within the return of commerce finance operations to regular and the steadiness of the overseas change market following the implementation of anti-money laundering and counter-terrorism financing controls on cross-border funds.”
It’s noteworthy that the Worldwide Financial Fund’s Article IV consultations are bilateral conferences held yearly between the Worldwide Financial Fund and member states, after which a crew of Fund specialists meets with the member nation and conducts formal consultations with its officers.