Saturday, December 7, 2024

"Iranian president sounds alarm on depleted foreign reserves"

With all the "color revolutions"/coups that the CIA and the National Endowment for Democracy have attempted you have to wonder why they never went after Iran.

In particular the protests of 2009 should have been exploited if regime change in the Islamic Republic was the goal but now that opportunity has passed; rapprochement between Saudi Arabia and Persia and the sudden acceleration of uranium enrichment would seem to foreclose that option.

From Iran International, December 3:

Iran’s president warned on Monday that the state is short of foreign currency and without parliamentary allocation of dollars for imports, gasoline prices would rise amid the country's economic crisis.

In a televised address, Masoud Pezeshkian admitted that in spite of promises that prices would not rise and that there would be no foreign exchange allocated for gasoline imports, it was a necessary means to manage in the worst recession since the founding of the Islamic Republic in 1979.

"When the allocation of foreign exchange is not compensated, gasoline prices will inevitably rise," he said.

He highlighted the financial strain posed by gasoline imports, citing a potential budget deficit that would harm low-income groups through inflation, referring to a shortage of foreign currency earnings that limit the government's ability to finance imports.

In the past six years, since the United States re-introduced oil export sanctions, the government has been forced to print more money that has pushed annual inflation to above 40%.

“When we allocate dollars to import gasoline, it leads to a budget deficit, resulting in inflation that harms low-income groups. By doing this, we exert pressure on them,” he added....

....MUCH MORE