Iraq’s reserves of gold rise to 142.6 tons
Gold bars. Photo: David Gray/AFP/Getty Images
Baghdad (IraqiNews.com) – The World Gold Council revealed on Wednesday that Iraq increased its reserves of gold to more than 142 tons.
In its latest report issued in January, the World Gold Council said that Iraq remained ranked thirty out of the hundred countries with the greatest gold holdings in the world.
Iraq increased its gold reserves from 132 tons to 142.6 tons, representing 8.3 percent of its remaining other reserves.
The report elaborated that Iraq is ranked fourth in the Arab world, after Saudi Arabia, which possesses 323.1 tons, followed by Lebanon, which has 286.8 tons, and Algeria, which has 173.6 tons.
With 8,133.5 tons of gold, the United States of America leads the world in this regard. Germany is second with 3,352.6 tons, Italy is third with 2,451.8 tons, and Bosnia and Herzegovina is last with 1.5 tons.
The World Gold Council mentioned that Iraq purchased approximately 12.25 tons of gold in 2023.
Iraq, the second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), resumed its purchases of gold in 2022 after a 4-year stoppage as part of a program to diversify its foreign assets, estimated at $100 billion.
The Central Bank of Iraq (CBI) bought 34 tons of gold in June 2022, representing an increase of 35 percent in its holdings at that time.