Iraq: over $2B in annual returns from foreign reserves investments
Shafaq News/ Iraq is reaping at least $2 billion annually from investments of its foreign currency reserves, a top financial adviser to the prime minister said on Tuesday.
'These investments are often short-term and directed toward US, European, or British treasury bonds to generate suitable returns,' said Mudher Mohammed Saleh in an interview with Shafaq News, noting that the investment portfolio prioritizes safety and liquidity, allowing assets to be swiftly converted into cash without incurring losses.
'The returns are appropriate and the risk level is low.'
Saleh explained to that the earnings from the reserves are categorized into two types: realized income, such as direct interest, and unrealized gains derived from portfolio diversification and potential profits from currency and gold exchange rate fluctuations.
Iraq's central bank recently reported that its foreign reserves declined by 10.18% in 2024 to 130.81 trillion dinars ($87.6B) from 145.64 trillion dinars ($97.6B) in the same period of 2023.
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