OPEC’s second-biggest producer was hurt by the slump in oil revenue as well the war with Islamic State militants Iraq’s foreign currency reserves will total about $60 billion by the end of 2015, higher than the International Monetary Fund predicts and at a level sufficient to maintain the dinar’s buying power, central bank Governor Ali Mohsen Ismail said. Reserves are still sufficient to cover six months worth of imports, despite the decrease in government revenue due to the drop in oil prices, Ismail said in a statement on the central bank’s website Tuesday. Gross foreign assets with the central bank stood at $58 billion at the end of September, according to official data. The IMF sees reserves reaching $50 billion by year-end, Ismail said, without explaining why his projection is more optimistic. OPEC’s second-biggest producer was hurt by the slump in oil revenue as well the war with Islamic […]