CBI: An increase in reserves of gold and hard currency

INA - BAGHDAD

Central Bank of Iraq - CBI revealed an increase in its reserves of gold and hard currency, while explaining the value of it.

”CBI reserves of hard currency witnessed a stable increase for more than a year, affected by the balanced measures of monetary policy, with which it exceeded the $64 billion barrier at the beginning of February 2022, as gold assets exceeded 96 tons in reserves of the CBI,” said the Deputy Governor CBI, Ihsan Shamran al-Yasiri, to the Iraqi News Agency (INA).

He added, "CBI continues to support banks to expand development opportunities in the country and reduce the financing gaps,”

Earlier, the Governor of the Bank, Mustafa Ghalib, said in a statement received by (INA), that "the Bank increased the amount of its initiative to lend to small and medium-sized enterprises by an amount of one trillion dinars, bringing the total amount allocated for this goal to two trillion dinars," noting that "CBI's lending initiatives, contributed to supporting the sectors of industry, agriculture, housing and trade, and they now constitute nearly 30% of the total credit granted to the private sector, and have contributed an important percentage to the GDP,”