CBI: Iraq's reserves at $109.4 B, cover 18 months of imports
2025-03-22 08:18
Shafaq News/ Iraq’s foreign currency reserves are sufficient to cover 18 months of imports, Iraq’s Central Bank (CBI) revealed on Saturday in its monetary stability report for Q3 2024.
Reserves stood at 143.35 trillion dinars ($109.4 billion) during the period, a slight decline from 2023 when they covered 21 months. However, CBI stressed that Iraq’s reserves remain well above the international standard of six months' import coverage.
The report comes as Iraq tightens foreign currency controls to stabilize the dinar and curb informal trading. With oil revenues—responsible for over 90% of state income—continuing to drive reserves, the country exported an average of 3.4 million barrels per day in February, according to the oil ministry.
