IMF Discusses Strengthening Iraqi Dinarlink to My FX Buddies Blog

Key discussions included:

• Non-oil GDP growth of 5% in 2024, driven by agriculture expansion and increased public spending, with 3.5% growth expected in 2025.
• Reduced dependence on oil revenues, improving economic diversification and stability.
• Review of actual 2024 expenditures and 2025 revenue forecasts, alongside strategies for deficit financing.
• Public debt strategy update, ensuring fiscal sustainability and investor confidence in government bonds.
• Financial sector reforms, with the IMF stressing the importance of banking modernization to attract foreign capital.
• Expanded collaboration with international correspondent banks to facilitate trade financing.
• Increased use of the Iraqi dinar in major transactions to strengthen the national currency.