Iran's minister criticizes global financial institutions

Iran Materials 4 April 2012 16:49 (UTC +04:00)

Azerbaijan, Baku, April 4 /Trend M. Moezzi/

Saying fairness and independence are required for economic growth, Iran's Minister of Economic and Financial Affairs Seyyed Shamseddin Hosseini strongly criticized global financial institutions during his speech in Sudan, Mehr news agency reported.

International financial institutions block any point of view that seeks justice because they're used as political tools to help the economic domination of a few countries continue, said Seyyed Shamseddin Hosseini who was attending the 37th annual meeting of the Islamic Development Bank's member countries.

Mr. Hosseini urged strengthening monetary cooperation among Islamic countries and using their currencies for transactions. He also criticized the sanctions against Iran, saying a few countries used distorted facts to impose sanctions that were illegal and unfair.

Exposing strategic problems with the global financial management, ending unfair regimes' domination of financial institutions should be focused on, Hosseini noted.