Iraq Increases Gold Reserves, Achieves Fourth Position in Arab World

Iraq has increased its gold reserves by 10 tons, reaching a total of 162.7 tons, according to the World Gold Council. This increase brings Iraq to 28th globally and fourth among Arab countries, with gold accounting for 13.6% of the total reserves.

Iraq has significantly increased its gold reserves by acquiring an additional 10 tons, raising its total to 162.7 tons. This information was reported by the World Gold Council (WGC) on Wednesday, based on their latest data from March.

Currently, Iraq’s gold reserves constitute 13.6% of the nation’s overall reserves. This recent increase secures Iraq’s position as 28th in the world among 100 countries and fourth in the Arab world, trailing only Saudi Arabia, Lebanon, and Algeria.

The WGC data further highlights that the United States leads globally with the largest gold reserves, holding 8,133 tons, followed by Germany with 3,351 tons and Italy with 2,451 tons. Conversely, Iceland is at the bottom of this list with just 2 tons of gold.

In conclusion, Iraq’s enhancement of its gold reserves exemplifies its strategic financial initiatives, positioning the country favorably within the global and Arab contexts. As Iraq continues to strengthen its holdings, it ranks significantly, further emphasizing the importance of gold in national reserves.

Original Source: shafaq.com