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Baghdad, Iraq

Baghdad, Iraq (iStock)

Iraq Resident Representative Site

Resident Representative Office in Iraq

This web page presents information about the work of the IMF in Iraq, including the activities of the IMF Resident Representative Office. Additional information can be found on the Iraq and IMF country page, including IMF reports and Executive Board documents that deal with Iraq.

News — Highlights

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Inflation and Conflict in Iraq: The Economics of Shortages Revisited

Containing inflation has turned out to be one of the most challenging aspects of economic management in Iraq. This paper posits that conventional as well as unconventional factors explain inflation dynamics in the recent past. click for more

Technical Assistance Evaluation Program

Findings of Evaluations and Updated Program - Evaluation of the Technical Assistance Subaccount for Iraq click for more

IMF Sees Global Imbalances Narrowing, but More to Be Done

Global Imbalances, Africa's Improved Debt Outlook, Nigerian Reform, Burkina Faso's Cotton Crisis, Ghana and Inflation Targeting, Iraq's Progress, Egypt's Reforms Spur Growth, Asian Trade, Baltics' High Growth Rate, News Briefs click for more

Iraq and the IMF

Press Release: IMF Staff Concludes the 2015 Article IV Mission for Iraq

March 18, 2015

Op ED by Masood Ahmed, Director of the Middle East and Central Asia Department : A tale of two shocks in Iraq

January 11, 2015

Press Release: Statement at the End of an IMF Mission on Iraq

December 9, 2014

IMF Survey : More Efficient Public Investment a Mideast, Central Asia Priority

November 17, 2014
Improving the efficiency of public infrastructure investment across many oil exporters in the Middle East and North Africa and the Caucasus and Central Asia is now more important than ever, a new IMF study says. click for more

Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries

November 12, 2014

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Regional Economic Outlook Update: Middle East & Central Asia

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Learning to Live With Cheaper Oil Amid Weaker Demand

A large and possibly persistent decline in oil prices, and slower-than-projected growth in the euro area, China, Japan, and Russia, have substantially altered the economic context for countries in the Middle East and Central Asia. The appropriate policy response will depend on whether a country is an oil exporter or importer. A common theme, however, is that these developments present both an opportunity and an impetus to reform energy subsidies and step up structural reform efforts to support jobs and growth.

Lower oil prices have weakened the external and fiscal balances of oil exporters, including members of the Gulf Cooperation Council (GCC). Large buffers and available financing should allow most oil exporters to avoid sharp cuts in government spending, limiting the impact on near-term growth and financial stability. Oil exporters should prudently treat the oil price decline as largely permanent and adjust their medium-term fiscal consolidation plans so as to prevent major erosion of their buffers and to ensure intergenerational equity.

Gains from lower oil prices provide much-needed breathing space for oil importers but will be offset by a concurrent decline in external demand, particularly from Russia, but also from the euro area and China. Russia's sharp slowdown and currency depreciation have weakened the outlook for the Caucasus and Central Asia (CCA) because of strong linkages through trade, remittances, and foreign direct investment, suggesting the need for greater exchange rate flexibility and near-term fiscal easing where financing allows, along with stepped-up reform efforts.

Resident Representative for Iraq

Gazi Shbaikat
Resident Representative

Dr. N. Abu-Aishan Bld. Floor #2
1 Saeed Al Mofti St. - Swifiyah
Amman 11185, Jordan
Email: GShbaikat@imf.org
Tel: (962) 6-5861598
Fax: (962) 6-5861572