The government’s financial advisor: Iraq has not submitted a request for a loan from the International Monetary Fund.
The government’s financial advisor: Iraq has not submitted a request for a loan from the International Monetary Fund.
2026-05-23
The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed on Saturday that Iraq has not yet submitted a formal request for a loan from the International Monetary Fund. He noted that Iraq maintains continuous contact with the Fund, and a government team holds annual meetings with its officials. Salih told the official news agency that “Iraq enjoys close relations with the International Monetary Fund and has concluded more than five agreements since 2003, three of which are Stand-By Arrangements, while the other agreements relate to emergency support.”
He added that “the Fund has played a major role in supporting the Iraqi economy over the past 23 years, especially since Iraq is now one of the biggest victims of the ongoing war in the region, taking into account that 85% of its oil exports pass through the Strait of Hormuz, and this has caused great damage and international concern, given that Iraq is an important and active member in the stability of the region and world markets.”
He also pointed out that “there is an Iraqi government team in contact with the IMF and meets with the Fund’s mission to hold consultations with its officials twice a year, in the spring and fall, and there is concern on the part of the Fund about the situation in the Middle East, including the situation in Iraq.”
He explained that “Iraq signed an agreement with the IMF on July 7, 2016, for a credit standby arrangement through the provision of a large loan, which played a major role in supporting the general budget,” noting that “signing an agreement with the IMF is a matter decided by the Iraqi government, and this does not prevent consultations between the two parties, as Iraq is a member of this institution responsible for stability in the world.”
He stated that “Iraq will borrow from the International Monetary Fund if the need arises, but there is no official request from the government yet. The current need is for the war in the region to stop and for its geopolitical effects on oil exports to cease.” He added that “there is technical assistance from the International Monetary Fund, which is currently available, unlike the issue of financing, which requires the approval of a program by the Iraqi government.”
He explained that “the loan itself represents a reform program to support the budget or to achieve social goals represented in supporting the health and education sectors, because it is a human investment that must have conditions that determine the directions of spending and commitment to a reform program in agreement between the Iraqi state and the International Monetary Fund.”
burathanews.com
