Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) revealed on Wednesday that the country’s foreign reserves rose to $81.53 billion by the end of August 2026, compared to $80.633 billion at the end of July.
Iraq’s foreign reserves increased by approximately $905 million during August but remained below the level recorded at the end of 2025, when they stood at $97.43 billion. Throughout the first eight months of this year, there has been a $15.89 billion decrease.
After reaching $101.08 billion at the end of January 2026, Iraq’s foreign reserves fell to $100.34 billion in March, $97.8 billion in April, $93.67 billion in May, $86.17 billion in June, and $80.63 billion in July before rising once again in August.
Last month, the CBI confirmed that its foreign currency reserves are entirely sufficient to meet all market demands.
Earlier in October, a Standard Chartered economist said that Iraq may resort to the International Monetary Fund (IMF) if oil revenues continue to fall and the currency’s devaluation fails to boost state finances as intended.
Standard Chartered chief economist for the Middle East and Pakistan Carla Slim said that any potential program with the IMF could entail structural reforms, particularly regarding the public sector wage bill, to enhance fiscal sustainability, Bloomberg reported.
If the current pace of depletion continues, Iraq’s foreign reserves might fall to roughly $60 billion by the end of the year, down from over $100 billion at the beginning of the year, according to Slim.
