Iraq depends on oil revenues for about 95 percent of its budget.
September 07, 2011
BAGHDAD — The Iraqi Central Bank has announced a large increase in the country’s foreign-currency reserves, RFE/RL’s Radio Free Iraq reports.
Mudher Muhammad Salih, an adviser to Central Bank Governor Sinan al-Shabibi, told RFE/RL on September 6 that the bank’s reserves “are now at about $58 billion.”
He said that was an increase from the $50 billion in foreign currency reserves it had at the end of 2010.