Finance Minister from Bangkok: “Iraq Vision 2050” aims to diversify the economy and empower the private sector Energy and Business
Finance Minister from Bangkok: “Iraq Vision 2050” aims to diversify the economy and empower the private sector
Energy and Business
2026-10-14
Shafaq News – Bangkok
Finance Minister Faleh Sari announced on Wednesday that “Iraq Vision 2050” aims to reduce dependence on oil, empower the private sector, and promote inclusive and sustainable growth by strengthening institutions.
This came in a speech he delivered before the meetings of the International Monetary Fund and the World Bank Group in Bangkok, which was followed by Shafaq News Agency.
Sari said that one of the main pillars of this vision is the shift towards private sector-led growth, activating industrial and agricultural projects, and supporting small and medium enterprises.
The Minister of Finance continued, saying: We are working on modernizing the banking system, strengthening governance and anti-money laundering and counter-terrorism financing controls, expanding electronic payments, and supporting the return of our banks to the international banking correspondent network.
The minister is participating in the annual meetings of the International Monetary Fund and the World Bank Group, currently being held in the Thai capital, Bangkok, as part of efforts to strengthen cooperation with international financial institutions and support the economic and financial reform process in Iraq.
Sarri had held a series of meetings with officials of the International Monetary Fund, beginning with a meeting with the Fund’s Executive Director for Iraq and the region, Mohamed Maait, and the incoming Executive Director, Ali Al-Hosni, in the presence of the Governor of the Central Bank of Iraq, Nizar Nasser Hussein, where the economic and financial conditions in Iraq were discussed, and views were exchanged on reform priorities and ways to enhance joint cooperation.
The minister also met with the regional director of the technical assistance department at the International Monetary Fund, Ali Abbas, to discuss areas of technical cooperation and prospects for benefiting from the Fund’s expertise in developing financial and economic policies in Iraq.
During his meetings, Sarri stressed the importance of the partnership with the International Monetary Fund in supporting reform efforts and enhancing their chances of success, expressing his confidence that financial reforms could be achieved within the next two years.
Speaking about the current economic challenges, the minister pointed to the repercussions of the Strait of Hormuz crisis and its impact on the Iraqi economy, explaining that the government is working on preparing immediate remedies and future solutions to contain its repercussions, and stressing that there is a real trend to support the private sector and alleviate the pressures it faces, in order to enhance its role in the market economy and contribute to expanding investment opportunities.
shafaq.com
