BAKU, Azerbaijan, October 30. Iran will increase its capital in the International Monetary Fund by $1,7 billion, the director general of the Central Bank of Iran Mohammad-Reza Farzin said at a meeting of the Iranian parliament on October 30, Trend reports.
According to him, the International Monetary Fund has announced that it can increase each country's capital by 50 percent.
Farzin added that 75 percent of the mentioned amount will be provided from local resources and 25 percent from unused currencies of other countries.
He stated that Iran has funds in Iraq and Türkiye. However, no income has been generated from these funds. Transferring these funds to the International Monetary Fund can also generate income. Also, this fund will no longer be blocked.
The official noted that the International Monetary Fund provides for income following the invested funds. Thus, with an investment income of $5 billion, it increases to $7 billion. It is possible to use these funds in the next stages. The use of these funds in the following stages is possible.
“If Iran does not increase its capital, other countries will increase their capital and become the leader of the group to which Iran belongs, in which case the income of these countries will be higher and the leadership of the group will be at the disposal of this country for 50 years,” he noted.
To note, the Iranian parliament has finally approved the increase of Iran's capital in the International Monetary Fund. Thus, Iran's capital in the International Monetary Fund will increase to $5.35 billion.