Al-Sudani's Advisor: Annual Returns From Investing Reserves Are No Less Than $2 Billion
Money and Business Economy News – Baghdad The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed on Tuesday that the "annual returns" from investing foreign reserves are no less than $2 billion, according to his estimates. Saleh said,
"These investments are often short-term and directed toward US, European, or British treasury bonds,
with the goal of achieving appropriate returns."
He added, "These investments are characterized by low risk and generate appropriate returns, and the invested assets can be quickly converted into cash without incurring losses."
Saleh pointed out that "profits generated from reserves are divided into two types: the first is realized, represented by direct interest, and the second is unrealized, resulting from diversifying the investment portfolio, in addition to realizing potential profits from exchange rate differences between currencies and gold."
The Central Bank of Iraq previously revealed a decline in foreign reserves for 2024, reaching 130.81 trillion dinars, a 10.18% decrease compared to the same period in 2023, when these reserves reached 145.64 trillion dinars. https://economy-news.net/content.php?id=54462