Doha: Iraq’s foreign reserves have reached approximately $110 billion, distributed between gold and foreign currencies, making them one of the most important factors supporting domestic and foreign investment.
According to Qatar News Agency, Iraq’s Prime Minister’s Financial Advisor Mazhar Mohammed Salih stated in a press release that these monetary reserves provide a safety factor against economic fluctuations and contribute to strengthening macroeconomic stability at both the domestic and external levels.
Salih emphasized that Iraq’s foreign reserves ensure strong coverage of the monetary base and support financial indicators linked to international trade and maturing debts. This positions the reserves as an economic shield, protecting the country from global shocks. The reserves are considered vital in maintaining Iraq’s financial health and supporting its economic strategies.
The reserves’ significant role in stabilizing the economy highlights their importance in safeguarding against unpredictable global economic trends. By maintaining a substantial reserve, Iraq aims to secure its financial infrastructure and enhance investor confidence, fostering growth in both domestic and foreign investment sectors.