The Iraqi Business Council held yesterday Wednesday March 4th 2026 an important economic meeting with the International Monetary Fund Delegation (IMF) – Iraq Mission headed by the Resident Representative, Dr. Muhammad Jabir, and attended by Ms. Sarah Allawi, Economic Analyst, and Ms. Dina Zahran, Economist.
The meeting took place at IBC headquarters in the presence of IBC Vice-Chairman and Secretary-General, Dr. Saad Naji, Board member Eng. Makki Al-Faiz, Board member of the International Development Bank, Mr. Hani Idris, and several Council members; including Ms. Niran Al-Hakim, Mr. Ahmed Dabdoub, Mr. Nimr Al-Noaman as well as the Director General of the Iraqi Bunises Council.
At the beginning of the meeting, Dr. Saad Naji welcomed the delegation, emphasising the importance of strengthening cooperation and dialogue between international institutions and the private sector to support economic development in Iraq. He also praised the ongoing partnership between the International Monetary Fund and the Iraqi Business Council.
IBC Director General provided an overview of IBC role in supporting the private sector and strengthening communication between the business community, government entities and the international institutions.
For his part, Dr. Muhammad Jabir reviewed the nature of the International Monetary Fund Mission’s work in Iraq and highlighted key areas of cooperation with the government, as well as the reform measures recently implemented to support economic stability and strengthen fiscal and monetary policies.
The meeting also discussed recent economic developments in Iraq and the challenges facing the business and investment environment, in addition to means to enhance the role of the private sector in supporting the national economy.
Dr. Saad Naji presented several economic indicators, emphasising the importance of exchange rate stability and strengthening confidence in the banking sector. He also proposed reducing government staffing level to 60% to reduce operational expenses and gradually adopting the “ACODA” system to recalculate the costs of imported goods.
In turn, Eng. Makki Al-Faiz stressed the necessity of exchange rate stability, noting that the gap between the official exchange rate and the parallel market represents a real problem for Iraqi companies. The participants also discussed the banking reform program launched by the Central Bank of Iraq, which will continue until 2028.
At the conclusion of the meeting, both sides emphasized the importance of continuing dialogue and coordination between the Iraqi Business Council and the International Monetary Fund to support economic reforms and strengthen the role of the private sector in development.
