Central Bank of Iran criticizes former head for fake information
Azerbaijan, Baku, Oct. 25 /Trend, N. Umid, S. Isayev
The Central Bank of Iran (CBI) has criticized its former head Mahmoud Bahmani because of his statement regarding country's former president Mahmoud Ahmadinejad, Fars news agency reported.
Bahmani claimed ex-president Ahmadinejad left Iran's new presidential administration with some $100 billion of foreign exchange reserves and a full treasury.
Iranian media outlets quoted Bahmani on October 22 as criticizing President Hassan Rouhani`s administration which claim have been presented an empty treasury.
On October 21, Rouhani said that the previous administration's debts to the banks, private sector and contractors amount to 1800 trillion rials, some $72.5 billion based on the official rate of 24,820 rials/USD.
The CBI announced that during the Ahmaninejad`s Administration (3 August 2005 - 3 August 2013) Iranian banks` debts to CBI faced a 13.6 fold increase, while the government debts to CBI increased by 2.6 times.
The money base and liquidity also increased by 4.4 and 5 times respectively, which lead to 40-percent inflation rate, the report said.
According to a report released by CBI on October 2, total net assets of the Iranian bank system have increased from 327 trillion rials ($13.17 billions) in 2005 to 811 trillion rials ( $32.67 billions) on March 21, 2013.
In other words, some 500 trillion rials($20.14 billion ) of money was released into Iran's economy during 8 years.
The liquidity has increased from 700 trillion rials ($28.19 billions) to 4700 trillion rials(189.3 billions) during that period.