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, […]
By John Lee. Following Iraq's successful return to the bond markets earlier this year, it is now reportedly planning a $2 billion sovereign bond issue in 2018. The Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq [Alak] (pictured), told Reuters that the plan is currently awaiting parliamentary approval. He added […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali al-Alak, has reportedly said that Iraq's foreign reserves have dropped to $50 billion. According to a report from Reuters, this is down from $59 billion at the end of October 2015. Prime Minister Haider al-Abadi has announced plans to narrow the public […]
By John Lee. According to a report from the International Monetary Fund (IMF), the fall in oil prices since mid-2014 is expected to shift the current account balance from a surplus of 1 percent of GDP in 2014 to a deficit of 7 percent of GDP in 2015 and 6 percent of GDP in 2016. […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Ismail (pictured), has said that he expects Iraq’s foreign currency reserves to total about $60 billion by the end of the year. According to the report from Bloomberg, that is higher than the International Monetary Fund (IMF) predicts, and sufficient to […]
By John Lee. A report released this morning by the World Gold Council says that Iraq's Central Bank bought 48 tonnes of gold during 2014, trebling the size of its gold reserves over the year. Fortification and diversification of reserves, namely away from the US dollar, continues to be the driving force behind this activity, […]
By John Lee. The Central Bank of Iraq has purchased 36 tonnes of gold valued at $1.6bn to help stabilise the Dinar against foreign currencies, Bloomberg reports. Iraq is now the 43rd largest holder of gold reserves globally, having already held 29.8 tonnes as of August last year, but the latest purchase is one of the biggest by […]
Iraq now has over $60 billion in foreign currency reserves as a result of the country's oil sales, according to a report from Azzaman. Mudher Saleh, a consultant with Iraq's Central Bank, said the reserves are the highest in the country’s history, and are more than enough to cover the total volume of national currency […]
The deputy governor of Iraq's central bank has announced that foreign currency reserves have risen to close to $58 billion, and are expected to increase further thanks to a rise in oil revenues. Mudher Kasim said higher global oil prices could result in a budget surplus for 2011. Reuters quotes him as saying, “(The amount […]
