Baku, Azerbaijan, May 7
By Elnur Baghishov – Trend:
The Central Bank of Iran has planned a number of measures to take for a new round of sanctions, said Abdolnaser Hemmati, Governor of the Central Bank of Iran, Trend reports referring to the website of the Central Bank of Iran.
According to Hemmati, the Central Bank had previously taken necessary measures to deal with the US economic pressure, control the foreign exchange market and prevent inflation.
He added that new programs will be implemented in the following format:
1. To work towards protecting the relative stability of the currency market through the formation of a single foreign exchange market, strengthening the NIMA system and ensuring the stability of the national currency.
2. To adjust foreign exchange policies for the development of non-oil exports and the return of foreign currency to the country's economic turnover.
3. To provide foreign currency needed for the import of essential goods in pursuit of the governmental policy of supporting low-income sections of the population.
4. Activate open market operations to control the price of securities and assist the government in the distribution of securities.
5. Ensure liquidity and equity capital for the growth and protection of the production through the banking system within the regulated programs in order to control the increase of liquidity.
6. Establish coordination between the Ministry of Industry, Mine and Trade of Iran, the Iranian Customs Administration and the Central Bank of Iran in order to create a financial mechanism and import through barter with friendly and neighboring countries.
The US declared its withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in May 2018 and imposed sanctions on Iran in November of the same year.