Iraq’s Central Bank Governor, Ali al-Alaq, revealed on Tuesday that the country boasts one of the largest gold reserves in the Arab world, totaling 162 tons. This significant figure places Iraq among the top four nations in terms of gold holdings in the region.
Al-Alaq explained that the Central Bank is closely monitoring the movement of gold and currencies. He highlighted that maintaining a diverse set of reserves is essential to safeguard the country against potential economic risks. As part of this strategy, Iraq has consistently invested in gold over the years.
The Central Bank Governor emphasized the importance of having a portion of the nation’s reserves in gold, especially considering the uncertain global financial environment. This strategy helps Iraq manage its economic stability. Al-Alaq noted that, particularly in recent years, there has been a continuous effort to increase Iraq’s gold reserves.At present, Iraq ranks fourth in terms of gold reserves among Arab countries. This achievement underscores the nation’s commitment to strengthening its financial stability through strategic investments. The Central Bank’s proactive approach to securing assets ensures that Iraq can weather any financial storms that may arise.
This development reflects Iraq’s dedication to diversifying its reserves and reducing reliance on volatile currencies. The country’s significant gold reserves serve as a buffer against external financial pressures and market fluctuations. Al-Alaq’s remarks underscore Iraq’s forward-thinking approach to maintaining a strong economic foundation.As global markets continue to face uncertainties, Iraq’s impressive gold reserves act as a safeguard for the nation’s future. The Central Bank remains vigilant, closely monitoring market trends to ensure that Iraq’s gold holdings continue to grow and support long-term economic stability.In conclusion, Iraq’s gold reserves are among the largest in the Arab world, and the Central Bank is committed to strengthening these assets further. The country’s strategic investments in gold provide a solid foundation for future economic growth.
