Shafaq News- Bangkok
The International Monetary Fund (IMF) intends to support Iraq “very firmly,” Managing Director Kristalina Georgieva said on Saturday.
“We will get to Iraq both money and policy support,” Georgieva said at a closing news conference during the IMF and World Bank annual meetings in Bangkok, citing significant progress toward the program. “We still have a bit more work to do together, and I’m confident we will be successful,” she added.
LIVE NOW: IMF Managing Director Kristalina Georgieva and IMFC Chair, Saudi Finance Minister Mohammed Al-Jadaan, will brief the press on the outcomes of the International Monetary and Financial Committee meeting. https://t.co/C8kVQTKZrv
— IMF (@IMFNews) October 17, 2026
The IMF and World Bank Group held their annual meetings in Thailand from October 12 to 18, bringing together finance ministers, central bank governors, and other officials to discuss global economic issues.
Among the attendees was Iraqi Finance Minister Faleh al-Sari, who outlined Iraq’s Vision 2050, which aims to reduce reliance on oil, strengthen the private sector, and promote inclusive, sustainable growth through stronger institutions.
Al-Sari also expressed confidence that Iraq could complete its financial reforms within the next two years, underscoring the importance of cooperation with the Fund in supporting those efforts.
In its October 13 World Economic Outlook, the IMF projected that Iraq’s economy would contract by 16% in 2026 before growing by 19% in 2027. The Fund also forecast a current account deficit of 10.8% of gross domestic product this year.
Iraq has been seeking to diversify its economy and increase non-oil revenues, as oil accounts for around 85% of government revenue. According to IMF data, the Fund last approved a $5.34 billion Stand-By Arrangement for Iraq in July 2016, of which the country drew approximately $2.1 billion.