The Iraqi Prime Minister Mustafa Al-Kadhimi revealed that the reserves of the Central Bank of Iraq have risen to more than $60 billion, in an indication of the start of the recovery of the Iraqi economy, which witnessed a crisis during the second half of last year that prompted the government to borrow in order to pay the salaries of employees.
Al-Kadhimi stated in a speech during the opening of an oil project in Basra, that "the Central Bank's foreign exchange reserves rose to more than $60 billion, after it was 51.9 billion before the reform measures of the current government began."
He also pointed out that "this increase came as a result of the reform measures taken by the government, after many bet on its failure and lack of continuation," noting that "we have succeeded in stopping the waste and the great corruption in the notorious Central Bank auction, and we are continuing with our measures and we will not stop."
He continued: "Our measures in fighting corruption are continuing despite the obstacles that some are trying to put in place, but we will continue without retreat, and at this level the government has completed a number of projects in the southern provinces that are deprived due to wars and mismanagement."
The Iraqi Prime Minister indicated that the reserves of the Central Bank of Iraq witnessed an increase of 4 billion dollars as a result of the reform measures taken by the government.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
