The Central Bank of Iraq published a statement on its reserve position following an extraordinary Board meeting reviewing current economic and financial conditions. The Board concluded that foreign reserves and financial buffers remain at safe and comfortable levels, with reserves covering around 12 months of imports, and signalled readiness to take timely measures to preserve monetary and financial market stability. The assessment covered banking system liquidity, money supply developments and the central bank’s foreign currency needs, alongside financial stability indicators, banking sector performance, and external trade and payments flows, including risks from regional and international economic changes. Looking ahead, the Board highlighted four priorities: maintaining reserve strength, examining alternatives to ensure the payment of public salaries and essential expenditures in the coming months, continuing support for banking sector liquidity to keep daily services running, and maintaining the smooth flow of external transfers for imports and other international payments.
Central Bank of Iraq 2026-03-08
Central Bank of Iraq says foreign reserves cover about 12 months of imports and prioritises bank liquidity support and smooth external transfers
The Central Bank of Iraq confirmed its foreign reserves and financial buffers are at safe levels, covering 12 months of imports, after a Board review. Priorities include maintaining reserve strength, ensuring public salary payments, supporting banking sector liquidity, and facilitating external transfers. The assessment also addressed banking system liquidity, money supply, and financial stability amid regional and international economic risks.