Thursday , 28 March 2024

Economy

Majles Committees, Judiciary, Legislative Chiefs Torpedo Rouhani’s ‘Economic Breakthrough’

Radiofarda – The Iranian parliament has effectively torpedoed President Hassan Rouhani’s plan to make up for the country’s nearly 50 percent budget deficit. Deputy Majles Speaker Amir Hossein Ghazizadeh confirmed at the open session of the Majles on Sunday, August 16 that the chiefs of the parliament’s economic and plan and budget committees have protested against Rouhani’s plan at an …

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Iran Central Bank Governor Defends Decision To Presell Crude Oil In Stock Market

Radiofarda – The governor of the Central Bank of Iran, Abdolnaser Hemmati, advocated for pre-selling oil to domestic buyers as the best way to address the government’s budget deficit in a “healthy manner,” blaming U.S. sanctions on Iranian oil exports for the deficit. In an Instagram post on Wednesday, Hemmati wrote that the government’s choices for remedying the deficit include …

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Iran To List Oil In Its Energy Exchange To Collect Cash From People

Radiofarda – Iran’s President Hassan Rouhani says the heads of the three branches of the state in Iran have decided to offer the country’s oil for sale to private individuals in the Energy Exchange. Rouhani had promised last week to announce an economic breakthrough. However, there have been many speculations, questions and doubts about the practicality of selling “oil bonds” …

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Iran Might Be Thinking To Sell ‘Oil Bonds’ To People To Raise Cash

Radiofarda – Iranian President Hassan Rouhani’s promise last week to announce an “economic breakthrough” soon gave way to speculations that Iran was ready to approve anti-money-laundering laws mandated by the international community. But now another idea has been floated: Selling oil bonds to people to pocket their savings in hard currencies with a promise to pay them back later with a profit. …

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Iran’s Rial Regaining Value As Central Bank Injects $2.5 Billion Into Market

Radiofarda – Iran’s national currency regained 10 percent of its value on Monday after the Central Bank of Iran (CBI) injected $2.5 billion into the market in recent days. On Friday the CBI Governor Abdolnaser Hemmati said that $2.5 billion in export revenues had been re-injected into the NIMA system [Persian acronym for Consolidated System of Forex Transactions] over the …

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Why Iran could be approaching hyperinflation in coming years

Al-Monitor – The asset markets in Iran have been witnessing sharp surging spikes in prices in the recent weeks and months on the back of astonishingly rising money supply. The Tehran Stock Exchange Index, with a return of more than 147%, was the best performing market, followed by the gold, foreign exchange and housing markets with a return of 30.5%, 24.8% and 19.1% respectively in …

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Rouhani’s ‘Good News’ May Refer To Finalization Of FATF Laws

Radiofarda – Two members of Iran’s Chamber of Commerce have said that the “good news” Rouhani on Wednesday said should be expected “if approved” by Supreme Leader Ali Khamenei is a hint at the possible approval of the bills that allow Iran to join the Financial Action Task Force (FATF). “There are rumors that the economic breakthrough that the President …

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Iran: China’s Newest Colony?

gatestoneinstitute.org – The deal is a clear win for China; the $400 billion will be invested over 25 years, which is a small amount of money for the second-largest economy in the world. China will also have full authority over Iran’s islands, gain access to Iran’s oil at a highly discounted rate and increase its influence and presence in almost …

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