The Central Bank of Iraq has boosted its gold reserves by about 2 percent, as part of a gradual plan to increase stocks of the precious metal, which is seen as a traditional haven in times of economic crisis.
The Director General of the Department of Investments at the Central Bank, Mazen Sabah, in an interview with the agency "Bloomberg", that "Iraq bought 2.5 tons of bullion to raise its reserves to 132.73 tons".
Sabah pointed out that "the strategy is to get more gold in the second half of 2023, as our current plan is to buy small quantities several times, not a large amount at once."
Source (Al-Arabiya.net Website, Edited)
