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Clare » March 5th, 2025
Iraq increases its gold reserves by 10 tons
3/5/2025
The World Gold Council announced on Wednesday that Iraq has increased its reserves of the precious metal by 10 tons.
According to the latest schedule published by the Council in March, which Shafaq News Agency reviewed, “Iraq increased its gold holdings by 10 tons to reach 162.7 tons after it was 152.7 tons during the past month, which represents 13.6% of its other remaining reserves.”
He added, “Iraq reached the 28th rank on the list out of 100 countries included in the table,” indicating that “Iraq came in fourth place in the Arab world after Saudi Arabia, Lebanon and Algeria.”
The Council pointed out that “the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133 thousand tons, followed by Germany with 3,351 thousand tons, then Italy with 2,451 thousand tons, while Iceland came in last with 2 tons.”
Increasing gold reserves means increasing the amount of gold held by the state or the central bank as a financial reserve, in order to enhance financial security and the ability to confront economic or financial crises.
The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world. LINK
In the coming days.. Parliamentary expectations of resuming the export of Kurdistan oil via Ceyhan
3/5/2025 Information / Baghdad..
Member of the Iraqi Council of Representatives Yahya Al-Muhammadi expected, on Wednesday, the consumption of oil exports from the Kurdistan Region via Ceyhan, Turkey, after it had been suspended for many months.
Al-Muhammadi said in a statement to / Al-Maalouma / agency, that “amending Article 12 constitutes a roadmap for resuming oil exports,” noting that “oil exports will be via Ceyhan, Turkey, through the SOMO company.”
He added that “Article Twelve of the Budget Law, which was previously amended, includes compensating the Kurdistan Regional Government for the costs of production and transportation for extracting oil, which the central government set at sixteen dollars.”
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He pointed out that “the Kurdistan Region is on the threshold of exporting oil and handing over oil revenues to the central government according to the mechanisms specified in the Budget Law and its amendment.” LINK
Source: Dinar Recaps
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