Foreign reserves of Iraq's Central Bank decline
Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) reported on Saturday a drop in its net foreign reserves along with a modest decrease in its domestic debt for January 2025.
The CBI's net foreign reserves in January 2025 were 128.97 trillion Iraqi dinars ($98.5 billion), according to the bank's report on financial and monetary indicators in Iraq.
The figure represents a decrease of 1.41 percent compared to December 2024, when the CBI's foreign reserves were equivalent to 130.18 trillion Iraqi dinars ($99.44 billion), Shafaq News reported.
The CBI's foreign reserves in January 2024 reached 140.77 trillion Iraqi dinars ($107.5 billion).
The domestic public debt in January 2025 slightly declined to 80.4 trillion Iraqi dinars ($61.41 billion) compared to 80.5 trillion Iraqi dinars ($61.49 billion) in December 2024.
Iraq's foreign reserves are one of the most important indicators supporting both domestic and foreign investments, according to Mazhar Saleh, the Prime Minister's Advisor for Financial Affairs, because Iraq has a well-established foreign exchange portfolio that is divided between gold and foreign currency.
According to Saleh, Iraq's foreign reserves support macroeconomic stability both domestically and internationally, acting as a buffer against shocks and volatility in the global economy.
Foreign reserves provide strong coverage of the monetary base and financial indicators pertaining to commerce and foreign obligations.
Iraq, the fifth-largest oil producer in the world, can swiftly and effectively expand its foreign exchange reserves because of its steady international financial flows.
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