Iraq has hard currency reserves of 48 billion US dollars, according to the Global GFP Ranking Corporation, which indicated that China ranked first with most of the world’s reserves.
The institution said, according to its latest classification, that “Iraq’s reserves of hard currency, including foreign exchange and gold, amounted to 48 billion and 880 million dollars,” indicating that “Iraq ranked 40th with the most reserves among the 138 countries included in the statistics.”
She added that “Iraq ranked sixth in the Arab world after each of Saudi Arabia, whose reserves amounted to 496 billion and 400 million dollars, followed by second place Algeria with 97 billion and 890 million dollars, followed by the United Arab Emirates with reserves of 95 billion and 370 million dollars, followed by fourth in Libya with reserves amounting to 74 billion and 710 million dollars, and then Lebanon comes in fifth place with reserves of 55 billion and 420 million dollars. ”
She noted that “China ranked first with the largest reserves in the world in hard currency, with reserves of 3 trillion and 236 billion dollars, followed by second in Japan with reserves of one trillion and 264 billion dollars.”
It is noteworthy that the Central Bank of Iraq announced in April 2019 the increase in Iraq’s foreign exchange reserves to 62 billion dollars.