Iraq’s Gold Reserves: A Strategic Asset
In recent statements, Ali Al-Alaq, the Governor of the Central Bank of Iraq, has underscored Iraq’s robust position within the Arab world regarding gold reserves, boasting a substantial total of 162 tons. This significant holding places Iraq among the top four nations in the Arab region.
Al-Alaq highlighted the central bank’s proactive management of both gold and currency markets. He stated, "The central bank is constantly following the movement of gold and currencies," emphasizing the importance of diversification in mitigating financial risks. Over recent years, Iraq has increased its gold purchases, contributing to the resilience of its economic strategies.
With 162 tons of gold, Iraq not only secures a vital asset but also reinforces its financial stability amid global economic fluctuations. The commitment to increasing gold reserves reflects a strategic approach to safeguard the country’s economic interests in turbulent times.
This affirming position underlines Iraq’s potential as a key player in regional economic stability and wealth management, leveraging its gold reserves to bolster investor confidence and support national fiscal policies.
