Central Bank Reveals $30 Billion Drop in Iraq's Foreign Reserves to Cover Public Salaries

mesoiraq - The Governor of the Central Bank of Iraq revealed that the nation's foreign currency reserves dropped from $109 billion to approximately $77.5 billion, reflecting a loss of over $30 billion. The decline is attributed to economic disruptions following the closure of the Strait of Hormuz and broader regional geopolitical strain. The central bank noted that the majority of the utilized reserves were directed toward securing public sector salaries and maintaining domestic financial stability.