Iraq’s foreign reserves, essential for shielding the economy from volatility, are valued at approximately $110 billion, according to Prime Minister’s Advisor for Financial Affairs, Mazhar Saleh.
Saleh explained that Iraq’s foreign exchange portfolio, which includes both gold and foreign currency, plays a key role in attracting both local and foreign investments. He emphasized that these reserves provide a crucial buffer against economic shocks and help maintain macroeconomic stability both within Iraq and internationally.
The foreign reserves also offer strong support for the country’s monetary foundation, covering financial indicators linked to trade and international debt. Saleh highlighted that Iraq’s balance of payments is showing positive trends, which enhances the stability of the Iraqi dinar and reduces the impact of fluctuations in global oil markets.
As the fifth-largest oil producer in the world, Iraq can rapidly boost its foreign currency reserves due to consistent international financial flows. This solid reserve base fosters a stable investment climate, supporting the country’s ongoing economic growth and encouraging further investment.