TEHRAN (Iran News) – The Central Bank of Iran (CBI) will spare no effort in helping the domestic economy emerge from the crisis caused by the coronavirus outbreak in the country while suffering the least possible harm, said the bank’s governor.
Commenting on the domestic banking system’s supporting plans for reducing the negative economic impacts of the coronavirus crisis in the country in an Instagram post on Saturday, Abdolnaser Hemmati wrote, “All that the government and the CBI want is to provide the people of the country with greater and more extensive gratuitous financial assistance.”
He regretted, however, that cruel US sanctions, coupled with a decline in oil prices and the costs involved in the fight against the spread of the virus, have created an economic bottleneck for the government, limiting its resources.
Hemmati added that despite these problems, the Iranian banking system will immediately grant low-interest (four-percent) loans (between $238 and $476) to four million low-income families in the country.
He added that the CBI will also offer low-interest loans to the economic agencies and businesses harmed by the spread of the virus.
Earlier, Hemmati said the domestic banking system will provide maximum assistance to the domestic tourism sector that has been harmed by the spread of the coronavirus.
He made the remark in an Instagram post, adding, “Today, along with First Vice President [Es’haq Jahangiri], I attended a meeting with those involved in the domestic tourism, cultural heritage, and handicrafts sectors. The officials of these sectors, as well as the heads of the related associations, expounded on the problems they face on account of the coronavirus contagion in the country at a time when their activities should have been at their peak.”
Hemmati said under normal circumstances, hotels, tourism and handicraft centers as well as travel agencies in Iran reach the peak of their activities and income generation during the New Year holidays (March 20-April 1), adding that this year, their activities were completely suspended during the high season.
In the meeting, he added, they presented remarkable proposals concerning the postponement of the due date for the payment of the installments and receiving new loans to prevent further damage to their businesses.
The CBI governor also stressed that the biggest harm the virus causes is endangering the lives of Iranian people, which is far more important than its negative impacts on the economy.
He gave the assurance that the country’s banking system would provide, with maximum assistance, the domestic tourism sector harmed by the coronavirus spread, as prosperity would be restored to the sector only if the situation in the country returns to normal and the spread of the virus is fully contained.
- source : Iran Daily, Irannews