Bangkok:Central Bank of Iran Governor Abdolnaser Hemmati has dismissed claims that Iran's economy is on the verge of collapse, emphasizing the country's resilience despite external pressures. He spoke at the International Monetary Fund's annual meetings, highlighting the challenges posed by U.S. and Israeli actions and sanctions.
According to Islamic Republic News Agency, Hemmati outlined the central bank's priorities, which include curbing inflation, stabilizing inflation expectations, maintaining financial stability, and ensuring the continuity of banking and payment services. He noted that the bank has played a crucial role in maintaining economic stability by supplying foreign currency for essential goods and medicines, even under the strain of U.S. sanctions.
Hemmati reaffirmed the bank's commitment to monetary discipline and stronger policy frameworks. He emphasized the importance of addressing macroeconomic imbalances and urged the assessment of the bank's performance within the context of external shocks and financial constraints.
He warned about the impact of continued regional tensions on energy markets, transportation, trade, and investment. Hemmati stressed that stability requires respect for sovereignty and legitimate security concerns, along with cooperation based on mutual responsibility and shared interests.
Additionally, Hemmati called on the IMF to evaluate the economic effects of wars, sanctions, and restrictions on international payments with the same rigor applied to domestic policies. He advocated for consistent standards across all member countries and encouraged active dialogue to mitigate these consequences.
The 2026 annual meetings of the IMF and World Bank Group are taking place in Bangkok, Thailand, from October 12 to 18, with Iran represented by Hemmati and Minister of Economic Affairs and Finance Ali Madanizadeh. Key topics on the agenda include global economic and financial stability, growth, employment, investment, development financing, poverty reduction, AI's impact on jobs, and public debt.