By John Lee. The Central Bank of Iraq (CBI) has held an extraordinary board meeting to review recent economic and financial developments and assess macroeconomic indicators and future outlooks in light of regional and global changes. The board conducted a comprehensive review of conditions in the monetary and financial markets, including: Liquidity levels within the banking […]
By John Lee. The Central Bank of Iraq (CBI) has issued a statement clarifying the objectives and functions of its Investment Department: [See also: CBI Instructions for Exchanging Dinars and CBI Denies Dinar Revaluation Rumours as Inflation Falls] Objectives To mitigate risks associated with the investment of foreign reserves whilst achieving acceptable returns thereon. To […]
By Dr. Ali Abdul Rahim Al-Aboudi, for the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Liquidity crisis and expenditure financing: Does the lack of dinar liquidity pose a serious threat to the Iraqi economy? The national currency […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, announced on Sunday that Iraq is currently witnessing the lowest inflation levels in its modern history. Speaking at the Iraq Investment Forum, he said that the country enjoys "comfortable" foreign currency reserves capable of defending the exchange rate, while monetary […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Is Iraq facing a cash crisis? With two months of expenditures still unaccounted for, it is evident that the dinar reserves derived from oil-based dollar revenues have been exhausted. Click here to read the […]
By John Lee. A meeting of the Iraqi Cabinet this evening approved an increase in Iraq's quota at the International Monetary Fund (IMF) by 831.9 million Special Drawing Rights (SDR), equivalent to 1.45 trillion Iraqi dinars [$1.1 billion] based on the exchange rate as of October 8, 2024. This 50-percet increase in Iraq's previous quota […]
By John Lee. The Central Bank of Iraq (CBI) has reported an increase in foreign reserves to 148 trillion dinars [$113 billion] and deposits in the banking sector to 131 trillion dinars [$100 billion], which it says indicates a positive trend in monetary stability and financial growth. According to the state-run Iraqi News Agency (INA), […]
By John Lee. The Central Bank of Iraq (CBI) has decided to resume the sale of gold ingots and coins starting on Wednesday, November 8, 2023, using an electronic platform. The bank has confirmed that both government and private banks can apply to purchase gold ingots and coins through a dedicated online platform, emphasizing that […]
By John Lee. The Central Bank of Iraq (CBI) reportedly expects cash reserves to reach $90 billion by the end of this year, up from about $80 billion currently. CBI Deputy Governor, Ammar Khalaf, told the Iraqi News Agency (INA) that the increase is a result of higher oil prices. He added that gold reserves […]
By John Lee. The Iraqi Minister of Finance has said that Central Bank of Iraq (CBI) reserves are expected to exceed $90 billion by the end of 2022, a new record for the country. Addressing the Iraqi Cabinet, Ali Allawi (pictured) said that "the recovery in oil prices and prudent financial management helped boost reserves […]
By Olivia Bridge. Despite recent tumultuous times and a weakening economy in Iraq, government is said to be implementing reforms that are aimed at reviving its ailing currency. Forex trading in Iraq While forex trading in Iraq is still a relatively new concept, it is gradually being embraced by nationals. Reports on the matter suggest […]
By John Lee. The Central Bank of Iraq (CBI) has announced that the county has foreign reserves exceding 60 billion dollars. In a statement on Wednesday, the bank said the reserves are "a result of the fiscal and monetary policies adopted by the Central Bank over the past years to stabilize the general financial situation, […]
