Last month, the official Iraqi News Agency quoted the Deputy Governor of the Central Bank as saying that the reserves amounted to more than 80 billion dollars and are expected to reach 90 billion dollars by the end of the year.
According to what he said, Ammar Khalaf, Deputy Governor of the Central Bank of Iraq, last month, the reason behind the increase in the monetary reserve is the increase in oil prices.
Iraq has benefited strongly from the jump in oil prices, even with the political turmoil in the country and negatively affected its economy.
And the Iraqi Oil Marketing Company (SOMO), said last week that the country’s production of crude oil rose in August to about 4.7 million barrels per day, which is consistent with its share under the “OPEC +” agreement.
On the other hand, the Central Bank of Iraq said that its gold reserves amounted to 130.4 tons, with a value of 7 billion dollars, bringing Iraq to the thirtieth place globally, and fourth in the Arab world.
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