Baku, Azerbaijan, Feb. 2
By Farhad Daneshvar - Trend:
An Iranian financial analyst has dismissed an idea that the unlocking of Iran's $32 billion in frozen assets abroad may lead to inflation in the country.
"A large part of the unblocked assets is not projected to be spent by the government, therefore it cannot have an impact on inflation," analyst Alireza Kadivar told Trend.
Kadivar explained that according to the governor of Central Bank of Iran Valiollah Seif, the country will get access to $32 billion of unfrozen assets as part of the implementation of the Joint Comprehensive Plan of Action (JCPOA).
Saying that the administration had earlier sold $28 billion out of $32 billion to the Central Bank of Iran and received rials in exchange, he added now $28 billion would go to CBI and only $4 billion will be transferred to the state treasury as the government's share.
The CBI has announced that the country has already gained access to $32 billion in frozen assets.
In a joint statement on Jan. 16, the EU High Representative Federica Mogherini and Iran's Foreign Minister Mohammad Javad Zarif announced the implementation of the JCPOA, aka nuclear deal, and the removal of economic sanctions on Iran. According to the statement, EU confirmed that legal framework, providing for lifting of its nuclear-related economic and financial sanctions, is effective.
Under the deal, Iran will have access to billions of dollars in assets frozen overseas, however the exact amount of the blocked assets still remains unclear.
...