EVALUATION OF FOREIGN RESERVES UNDER THE MONETARY POLICY OF THE CENTRAL BANK IN IRAQ DURING 2004-2019: AN ANALYTICAL STUDY

Abstract

Since the monetary authorities' investment in international reserves and their management is critical to formulating strategy, achieving financial stability, and avoiding global crises, retaining an acceptable size for these reserves has become a source of protection against economic shocks (foreign or internal).Iraq, like the rest of the world, has a diversified portfolio of international reserves. The increase in the number of oil exports was followed by the rise in oil prices, which resulted in the rapid accumulation of substantial financial returns from foreign exchange in the central bank's budget. The paper shows that the remainder of these oil proceeds should be invested in its economic growth.