Central Bank Reports Foreign Reserve Drop Amid Hormuz Shipping Disruptions

rafidainscope - Central Bank of Iraq Governor Nizar Nasser disclosed a reduction in national foreign currency reserves following economic headwinds linked to the closure of the Strait of Hormuz. Reserve levels declined from $109 billion to approximately $77.5 billion, with the major portion of funds directed toward sustaining public sector payrolls. The Central Bank confirmed ongoing fiscal measures aimed at preserving economic stability and managing liquidity effectively through the current financial strain.