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TNT
Clare:
Iraq imports over 50 kilograms of gold daily: Ministry
Iraq imports between 50 to 75 kilograms of gold daily excluding the Kurdistan Region, the planning ministry said on Wednesday, adding that gold imports are only allowed through airports.
“50 to 70 kilograms of gold is imported daily through the airports,” Iraqi planning ministry spokesperson Abdul Zahra al-Hindawi told Rudaw.
The imported gold arrives through Baghdad, Basra, Najaf, and Kirkuk airports, according to Hindawi.
While the amount of gold imported does not include the Kurdistan Region, Hindawi said that the ministry has expressed its readiness to coordinate with authorities in the Region to organize the process and obtain accurate numbers.
Gold is also imported through Erbil and Sulaimani airports, both of which have a center for inspecting gold and expensive jewels.
Government regulations in Iraq only permit gold to be imported through the airports.
In late December, a gold inspection center was opened in Kirkuk airport, which authorized the import of gold.
Sheikh Mustafa Abdulrahman, president of the Kurdistan Region’s Importers and Exporters Union, told Rudaw in December 2023 that the Kurdistan Region has become the center of gold trade in the region. link
Tishwash:
Iraq’s dollar reserves exceed $100 billion
Economic expert, Basem Jamil Antoine, revealed Iraq’s dollar reserves.
Antoine told {Euphrates News} that: “The Iraqi gold reserve is good and it is preferable for the reserve to be larger than it is now and commensurate with the size of Iraq’s dollar reserve, which currently amounts to more than 100 billion dollars.”
He explained that “these assets must be converted into production in the economic and private sectors to create job opportunities for the unemployed and reduce poverty rates,” stressing “the need for local reliance in production and not resorting to imports.”
Antoine pointed out “the importance of converting surplus cash liquidity into a productive sector that is capable of protecting the country and providing food security in all sectors.”
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed via {Euphrates News} Iraq’s gold reserves, which are estimated at about 152 tons.
Salih explained that its approximate value in the country’s foreign investment portfolio is about 14 billion dollars, which constitutes about 13% of the total diversification of that portfolio, which is distributed in standard proportions between other foreign currencies. link
Source: Dinar Recaps
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