<P class=MsoNormal style="MARGIN: 0in 0in 0pt; DIRECTION: ltr; unicode-bidi: embed; TEXT-ALIGN: left"><SPAN style="COLOR: black; FONT-FAMILY: Tahoma">EC to determine on FRF deposits<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:

15 March 2004 | 07:24 Code : 3667 Geoscience events
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<P dir=ltr align=left><SPAN style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Tahoma; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: FA">Minister of Economy and Finance Tahmasb Mazahe

Tehran, - Minister of Economy and Finance Tahmasb Mazaheri said here Saturday that the proposed withdrawal of dlrs 6.5 billion from the Forex Reserve Fund (FRF) depends on the approval by the arbitration body the Expediency Council (EC).

Speaking to reporters, Mazaheri also refrained from expressing views on the prudence of any withdrawal from the fund.

"I will announce my opinion at a future date. At this time, Majlis and Guardian Council (GC) should state their views on the subject."

On conflicting reports about FRF balance of dlrs four billion, dlrs 6.5 billion and dlrs 10 billion, he said the reason for divergent numbers could pertain either to the day balance, forecasted balance or the balance which is determined after deducting c urrent obligations of the fund.

Majlis last week approved a double-urgency bill, which once ratified will authorize the government to withdraw cash from the Forex Reserve Fund to complete semi-finished projects both in the current and next Iranian years.

tags: QAZVIN


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