News ID: 270621
Published: 0335 GMT June 25, 2020

CBI rejects IMF projection for Iran's economy

CBI rejects IMF projection for Iran's economy

Governor of Central Bank of Iran (CBI) Abdolnasser Hemmati refused on Thursday the forecast made by the International Monetary Fund (IMF) about Iran's economy.

Even the most negative scenarios made by the CBI would not confirm IMF’s minus six percent economic growth projection for Iran, Hemmati wrote in a statement, IRNA reported.

In its very recent forecast on world economy, IMF has said that Iran's Gross Domestic Product, GDP, will decline by about six percent in 2020.

According to Hemmati, IMF has made a mistake as it did last year.

He stressed that the CBI believes planning for on-time providing of essential goods for people is its national duty.

Elaborating on the existing CBI assets in Iraq, Hemmati added using those assets to purchase basic goods is a decision made in the framework of Tehran-Baghdad friendly relations.

On June 22, a senior Iranian official announced that Iran and Iraq have set up a new mechanism to settle debts owed by the Arab country over imports of electricity and natural gas from Iran.

Yahya Al- Es’haq, chairman of the Iran-Iraq Joint Chamber of Commerce, told Iranian Labour News Agency (ILNA) that the Iraqi government had agreed to pay for shipments of non-sanctioned goods ordered by Iran from other countries to clear its debt arrears to Tehran.

Resource: IRNA
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