Peregraf
Prime Minister Mohammed S. Al-Sudani has directed the formation of a joint national team tasked with strengthening Iraq’s financial and economic standing at the international level.
The team, chaired by the Governor of the Central Bank of Iraq (CBI), will include representatives from the Ministries of Finance, Oil, and Planning, as well as specialized financial institutions, the Prime Minister’s Office, the Securities Commission, and the Iraqi banking sector.
According to an official statement, the team will draft a comprehensive strategy with measurable objectives, provide periodic reports, and coordinate directly with international credit rating agencies such as Fitch Ratings, S&P, and Moody’s. The initiative aims to enhance governance, improve financial risk management, and develop the business environment in line with the government’s economic reform program.
The government emphasized that improving Iraq’s sovereign credit rating will boost international confidence in the economy and open broader opportunities for foreign investment. This move, it said, reflects a clear commitment to economic stability, financial system resilience, and diversifying national income sources away from heavy reliance on oil revenues.
Meanwhile, Central Bank Governor Ali Al-Alaq confirmed that Iraq’s foreign exchange system is running smoothly and covers nearly all major currencies used in trade.
“The foreign exchange process has witnessed significant development over the past two years in terms of method, approach, and organization,” Al-Alaq told the Iraqi News Agency (INA). He added that the central bank has expanded direct transfers and communications with correspondent banks, enabling greater flexibility and access to multiple currencies.