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Iraqi Finance Minister: Cash reserves will reach more than 90 billion dollars by the end of 2022

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Finance Minister: Cash reserves will reach more than 90 billion dollars by the end of 2022

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Today, Wednesday, Finance Minister Ali Allawi confirmed the increase in cash reserves with the Central Bank to 90 billion dollars by the end of this year, while setting the ratios of Iraq's commercial debts.

Allawi said in a report on the economic situation in Iraq seen by "Al-Iqtisad News", that "the devaluation of the Iraqi dinar led to the preservation of foreign currency reserves with the Central Bank of Iraq after the low and critical levels that reached in late 2020," noting, that "the recovery in Oil prices and prudent financial management, help reserves become $70 billion by April."

He added, "It is expected that the continued recovery of oil prices will increase these reserves to more than 90 billion dollars by the end of 2022, which is a record level for Iraq," noting that "the depreciation of the Iraqi dinar against the US dollar in December 2020 contributed to the decline of Demand for the US dollar, while the current demand for the dollar is higher than the declines seen in 2020, it is much lower than the