Iraq discussed Reconstruction and Economic Development support with the World Bank

The Iraqi Finance Minister Fuad Hussein plans to discuss future cooperation between Iraq and the World Bank according to the priorities and needs of the Iraqi government. The finance minister arrived in Washington and discussed with the President of World Bank Group, David Malabar. The ministry of finance issued a statement that they discussed the role of the Bank in supporting the plans of Iraqi government human development, sustained economic growth, reconstruction of a post-Saddam Iraq, as well as an exchange of ideas.

Iraq discussed Reconstruction and Economic Development support with the World Bank

Both sides exchanged views on the development and revitalization of the public and private economic sector, as well as poverty reduction. The statement further indicated that the Deputy Prime Minister and the ministerial delegation include the Minister of Health and a number of Director Generals. The statement added, they will arrange a series of meetings with the directors of the World Bank and the Member States. It is noteworthy that the World Bank has 189 member states, including Iraq (joined in 1945).

On Friday, the Iraqi Central Bank has demanded from all Iraqi banks to comply with the decision taken on dealing with perforated and burnt Iraqi dinar banknotes. The bank issued a statement that all Iraqi banks to confiscate the banknotes damaged perforated discovered within the deposits of bank customers and delivered to the Iraqi Central Bank with knowledge of its source from the customer, otherwise the bank bears the legal responsibility resulting from it. The statement also said that banks also provide damaged banknotes as a result of burning or burial to the Central Bank and its branches exclusively directly from citizens. Point to be noted that the current Iraqi banknotes consist of 7 categories, including 250, 500, 1,000, 5,000, 10,000, 25,000, and 50,000 dinars.

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