Azerbaijan, Baku, Feb. 6/ Trend M. Moezzi
With interest rates for participation bonds at 20 percent, an economic
expert predicts that the Tehran stock exchange will go bankrupt in the
next three months, the Iranian Labor News Agency (ILNA) reports.
If 400 companies were in need of capital goods, interest rates for
stocks would drop sharply causing the stock exchange to crash, Hassan
Etezadi said.
The Central Bank of Iran's inability to control the foreign currency
and gold coin markets and setting a 20 percent interest rate for bonds
will cause liquidity in those markets.
With inflation at 25 percent, the bond interest rate should be set at
more than 20 percent, the economic expert said.
Etezadi foresees the dollar's value climbing to 30,000 rials in the
next two months and the rial losing half of its value in the next two
months.
In recent weeks, worries about Iran's economy and the effects of
sanctions imposed by the United States and its allies have driven
Iranians toward the foreign currency and gold coin markets, pushing
their prices to all time highs.
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