Iran parliament annuls government - CBI deal
Azerbaijan, Baku, Jul.22/ Trend R. Zamanov
The Iranian parliament (Majlis) has annulled the government's decision to settle its debts with the central bank with the profits resulting from the difference in official and market price of foreign currencies sold to the CBI, Mehr news agency reported.
136 lawmakers voted in favor of the bill, 11 voted against, and 11 abstained.
Iran's Minister of Economic Affairs and Finance Shamseddin Hosseini previously said that based on an agreement the government's debt to the CBI would be settled with a total of 740,000 billion rials (approximately $30 billion by official forex rate) of profits resulting from the difference in official and market price of foreign currencies sold to the CBI.
Since the difference between the new rate and old rate is 12740 rials and since the government had deposited $58 billion, this would add 740 trillion rials to the government deposits in the bank.
The parliament has ordered the profits should be allocated to counter the losses that have been caused by the difference in official and market price of foreign currencies.