Mohamed AlgarjThe analysis finds the CBL had sold $15.7 billion through July 21 and had approved roughly $3.5 billion more. He argues that the scale cannot be assessed responsibly without a consolidated view of public spending, oil revenue, reserve flows and the dollar balance.
USD 15.7bn — foreign exchange reportedly sold through 21 July 2026
The analysis
The analysis finds the CBL had sold $15.7 billion through July 21 and had approved roughly $3.5 billion more. He argues that the scale cannot be assessed responsibly without a consolidated view of public spending, oil revenue, reserve flows and the dollar balance.
What the public record establishes
The linked records provide the institutional and numerical frame for this investigation. They support a documented reading, but do not automatically prove every causal claim or allegation. Reconcile "sold," "approved" and "requested" amounts against the same CBL reporting cutoff; they are not interchangeable or additive without checking overlap. Reserve depletion is a conclusion requiring reserve-asset, valuation and oil-receipt data, not FX sales alone.
What remains unanswered
The public-interest test is what the responsible institutions publish next: the underlying decision, transaction-level data, implementation record and a response that can be checked against the evidence in this macro file.
Editorial method: This investigation rebuilds the original calculation from the linked public records, preserves the source period and transaction stage, and separates documented figures from estimates, interpretation and allegations.
Mohamed Algarj