CBI Governor outlines economic achievements of government

Tehran, April 21, IRNA – Governor of the Central Bank of Iran (CBI) Valiollah Seif has elaborated on Iran’s economic achievements in a meeting in Washington with Christine Lagarde the Managing Director of the International Monetary Fund.

The meeting was held on the last day of Seif’s visit to the US where he participated in the spring session of the International Monetary Fund and the World Bank.

According to Seif, inflationary recession, increased economic growth and reduction of inflation rate were major economic achievements reulted from the sound policies of President Hassan Rouhani’s government, coordination among his cabinet ministers and support of the President.

He said presently stability has been restored to the currency market and positive expectations towards the future have been strengthened with regard to the drop in oil price.

Seif added the Iranian government has arranged the budget for the current year cautiously and with the assumption that the status quo will continue.

He predicted that the economic growth achieved last year will continue in the current Iranian calendar year (started March 21) adding that the trend would accelerate realization of economic targets in case of reaching a comprehensive nuclear agreement with the Group 5+1.

However, Seif noted that reaching a nuclear agreement and removal of anti-Iran sanctions could have positive effects on the country’s economic conditions and expansion of economic cooperation with regional countries regarding Iran’s ample economic capacities.

He added that boosting of Iran’s economic conditions would also lead to promotion of trade relations with those countries that had trade cooperation with Iran from the past.

As for the amount of oil production and exports, Seif further remarked that with regard to Iran’s membership in the OPEC, efforts would be focused on expansion of cooperation with the members of the organization and observance of the set quotas.

Seif also proposed setting up of an IMF regional training center in Iran. The Iranian and IMF officials agreed to follow up the proposal in the future.

Meanwhile, Lagarde voiced IMF’s support for Iran’s economic achievements stressing that the international body was ready to provide Tehran with the necessary technical assistance in the economic and financial fields.

By IRNA