Iran Has Quick Access to $6.7 Billion of Its Financial Resources in IMF: CBI Governor
- June, 01, 2023 - 12:19
- Economy news
TEHRAN (Tasnim) – Iran has quick access to $6.7 billion worth of its available financial resources kept in the International Monetary Fund (IMF), an official said.
Governor of the Central Bank of Iran (CBI) Mohammad Reza Farzin made the remarks on the sidelines of his meetings with the senior officials of the IMF in Washington, DC, on Friday.
Currently, Iran has 4.8 billion worth of Special Drawing Rights (SDRs), which is equivalent to $6.7 billion, he said, adding that withdrawing the fund can help improve the economic situation of the country to a great extent.
In different times when the global economy faces recession, the International Monetary Fund creates liquidity entitled “SDR Allocation, Special Drawing Rights" in order to help its members to get rid of economic recession, Farzin highlighted.
Until before 2021, Iran enjoyed 1.4 billion SDRs and 3.4 billion more SDRs were added to the previous account in order to confront the economic recession caused by the global coronavirus pandemic, the CBI governor noted.
Iran currently has 4.8 billion SDRs at the IMF, which is equivalent to $6.7 billion, he added.