Iraq's foreign reserves reach $79.2 billion, PM's finance adviser says

BAGHDAD, Iraq — Iraq's foreign currency reserves stand at a relatively safe level of $79.2 billion, Prime Minister's Finance Adviser Mazhar Salih said on Wednesday. Speaking in Baghdad, Salih said the reserves are sufficient to meet the country's external financing needs. Salih noted that the International Monetary Fund is closely monitoring Iraq's economic indicators as part of consultations with the country's monetary authorities. He said managing reserves is important for covering imports and maintaining the stability of the Iraqi dinar. The adviser added that strong reserves play a determining role in preserving Iraq's capacity to borrow in international markets. Salih said the reserves will continue to be reported transparently and shared with the public on a regular basis.