Iraq Forms Team to Improve Sovereign Credit Rating

Prime Minister Mohammed Shiaa Al-Sudani has directed the formation of a joint national team to strengthen Iraq's financial and economic standing internationally. The team will be chaired by the Governor of the Central Bank of Iraq and include representatives from the Ministries of Finance, Oil, and Planning, along with specialised economic and financial institutions, the Prime Minister's Office, the Securities Commission, and representatives of the Iraqi banking sector.

Its mandate includes developing an integrated strategy with measurable objectives, issuing regular reports to the relevant authorities, and engaging directly with leading global credit rating agencies Fitch, S&P, and Moody's to improve Iraq's sovereign credit rating. The team will also focus on enhancing governance, financial risk management, and the business environment in line with the government's broader economic reform agenda.

The government said the initiative reflects its commitment to adopting a comprehensive national strategy aimed at strengthening international confidence in Iraq's economy, attracting both direct and indirect foreign investment, and diversifying income sources to reduce reliance on oil revenues.