The Central Bank reveals Iraq’s gold reserve
(Article brought in from Charles Bright)


BAGHDAD – The governor of the Central Bank Ali al-Alak on Thursday revealed Iraq’s reserves of gold, pointing out that it exceeded 80 tons.

Al-Aalak said in a brief interview, “Iraq’s Iraq News”, that “the reserve of gold is more than 80 tons,” and with regard to the central bank’s storage of hard currency, “The reserve of the Central Bank is constantly changing, but it exceeds the size in 2016 “He said.

The central bank announced in February this year that its foreign currency reserves had fallen to 49 billion dollars as a result of continued low oil prices on world markets.

The central bank’s reserves of foreign currency in 2015 amounted to 68 billion dollars, but it began to decline as a result of the economic crisis faced by Iraq as a result of the drop in oil prices to about $ 40 and the result of military operations against the supporter of the terrorist. is over

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