CBI’s reserves exceed $110 billion
The Central Bank of Iraq. Photo: Shafaq News
Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) announced the size of foreign reserves, indicating that it seeks to spare them from risks, the Iraqi News Agency (INA) reported.
The Assistant Director of the Investments Department in the CBI, Muhammad Yunus, mentioned that the CBI’s investments originated out of foreign reserves held by the bank, INA mentioned.
Yunus pointed out that these investments are divided into liquidity segments and investment segments, according to INA.
The CBI official explained that the reserves exceeded 110 billion USD, noting that most of them invested in assets that are as close as possible to risk-free.
“We try, as much as possible, to enter into investments that achieve reasonable returns and avoid the risks that foreign reserves might be exposed to,” Yunus clarified.
The CBI official stressed that the returns on investments are acceptable and achieve the desired goal, INA added.