BAKU, Azerbaijan, Nov. 19
By Elnur Baghishov – Trend:
The Central Bank of Iran will issue interest-free loans worth 1 million rials (about $23.8) to each of the 10 million families, Director General of the Central Bank of Iran (CBI) Abdolnasser Hemmati wrote on his Instagram page, Trend reports.
According to him, these funds are intended for families of which haven’t got stable incomes.
The director general stressed that the loans will issued from 750 trillion rials (about $17.8 billion) allocated by the Central Bank of Iran to fight the coronavirus pandemic in the country.
Hemmati added that the CBI has no choice but to continue its administrative rules in order to maintain financial stability and prevent inflation rising.
"Given the importance of controlling liquidity and inflation, the Iranian government and parliament will consider providing a number of assistance which will not be provided at the expense of the CBI reserves to improve the situation of the population," he said.
According to the report of Statistical Center of Iran, the inflation rate in Iran reached 41.4 percent in the 7th month of current Iranian year (from September 22 through October 21).
The liquidity in Iran increased by 36.2 percent in the 6-th month of the current Iranian year (August 22-September 21, 2020) compared to the same month last Iranian year.
Thus, the liquidity in Iran amounted to 28.9 quadrillion rials (about $689 billion) in the sixth month.