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Rouhani Vows to Secure People’s Livelihood, Control Inflation

Rouhani Vows to Secure People’s Livelihood, Control Inflation

Wednesday, 28 October, 2020 - 07:15
Rouhani during the economic meeting on Tuesday. (IRNA news agency)

Iranian President Hassan Rouhani pledged Tuesday that his cabinet would secure people's livelihood and control inflation as part of its duty to address economic problems.

His statement came amid the collapse of the Iranian rial against the dollar, particularly after the United States reimposed crippling economic sanctions on the country.

At an economic meeting held in Tehran Tuesday, Rouhani continued to use a “reconciliatory tone” in explaining the economic challenges facing his country, saying the government welcomes any plans by officials and economic experts to solving the problems.

He said: “Considering the resources and providing the conditions for their implementation is a prerequisite for success in serving the people and gaining their satisfaction.”

In the meeting, the Plan and Budget Organization of Iran submitted a report on measures taken to compensate the people and society suffering from recent inflation, which has caused a hike in prices.

The Statistical Center of Iran (SCI) announced that the inflation rate had reached 41 percent in October.

Meanwhile, chairman of the Iran-South Korea joint chamber of commerce Hossein Tanhaei said in an interview with ILNA news agency that the two sides are negotiating for the release of Iran’s frozen assets in South Korea.

He added that the Central Bank of Iran and the Central Bank of South Korea are trying to unblock part of the frozen money.

“Undoubtedly, it depends on the outcome of the US election, and both countries are waiting for the announcement of the US election results,” he confirmed.

Regarding the exact amount of assets frozen in Korean banks, Tanhaei said: “Different amounts have been announced, but what we know it is $8.5 billion.”

Also on Tuesday, government spokesman Ali Rabiei said efforts are being made to bring back Iranian foreign currency assets deposited at banks in other countries.

“We now have tens of billions of dollars worth of foreign currency in other countries. The Central Bank [of Iran] and the Ministry of Foreign Affairs are working through a joint committee to bring back those assets,” he said.

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