Addressing a G24 meeting on Monday, Hemmati said: “Demands are expected to be met without discrimination and not under the influence of political lobbies.”

He stressed the need for unbiased support of the International Monetary Fund (IMF) and called for inclusive cooperation to transfer the technology of producing drugs for the COVID-19 and the distribution of the drug.

“Presently, what is very vital and important is global cooperation and the transfer of technical knowledge in the production and possibility of equitable production and distribution of vaccines at reasonable prices,” he said.

Hemmati further said that there were morally no limitations to export COVID vaccines and the relevant medical equipment.

“IMF and WB have a key role to play in supporting member countries to mitigate the health and economic effects of the pandemic and the various stages of recovery,” he noted.

Hemmati that the IMF was expected to fulfill the members’ legal demands, away from any political lobbies and pressures.

He underscored that the IMF must have sufficient resources to meet the large financial needs of its members in the event of a crisis.

The G24 meeting was chaired by Hemmati in the presence of the heads of the IMF and the WB, and the heads of the member central banks.

Examining the global economy, contributing to the economic recovery of developing countries after the Coronavirus Pandemic, and promoting cooperation between members were the main topics of the meeting.

How to support international organizations such as the International Monetary Fund, the World Bank, and multilateral development banks from developing countries and increase low-interest loans to these countries and delay previous loans were also among the most important topics discussed at the meeting.

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The chief banker cited figures released by the CBI’s Economic Accounts Department showing that Iran’s gross domestic product (GDP) grew by 3.9 percent with oil and by 2.9 percent without oil in the quarter to December 20.

“Thus, one can definitely announce the transition of the Iranian economy from the difficult period of sanctions and the recession associated with it to a period of renewed economic growth,” said Hemmati.

Iran has been hit hard by a series of unprecedented US sanctions since the middle of 2018 when a former government in Washington decided to pull out of an international agreement on Iran’s nuclear program.

Sanctions have largely targeted Iran’s exports of crude as its main source of earning hard currency. However, the bans have triggered a sweeping reform program in the Iranian economy as the government continues to diversify its revenues away from oil by encouraging increased activity in the manufacturing and agriculture sectors.

Hemmati hailed the fact that Iran had recorded two-quarters of economic growth at a time many countries are grappling with a deep recession.

He said the latest CBI data on GDP growth and the performance of various sectors of the economy during the quarter to late December will be published next week.

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Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati said that the United States failed in sanctioning Iranian oil.

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Abdolnaser Hemmati said the details of the monetary mechanism with Europe had been discussed with the Europeans in Brussels last week, Mehr reported.

“The monetary mechanism is based on the mutual understanding that Iranian and European companies and business people have the tendency to establish and keep commercial ties with the other side despite U.S. unilateral withdrawal from the nuclear agreement,” Hemmati added.

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As the official has previously announced CBI has paid €3.2 billion to import basic goods during the past month.
“In the past month, €1.8 billion has been paid for importing basic goods including oil, meat, rice, medical equipment, etc., while €1.4 billion has been supplied by the domestic Forex Management Integrated System [locally known as NIMA] for importing raw materials as well as capital and consumer goods,” Hemmati wrote on his Instagram page.
According to the latest announcement of CBI, the bank has paid €5.5 billion for supplying basic goods since the beginning of the current Iranian calendar year (March 21) till early September.
Such measures have been taken to encounter the recent unprecedented sharp depreciation of rial against the U.S. dollar.
The increase in prices of basic goods outstrips people’s income, i.e. purchasing power has decreased.

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According to Central Bank of Iran (CBI), only in the last month of the past calendar year (February 20-March 21, 2018) 4.8 trillion rials (about $114 million) worth of banking facilities were paid to knowledge-based companies.

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