Expert: Iran's economy is collapsing and fear of Saddam's fate

Expert: Iran's economy is collapsing and fear of Saddam's fate



Twilight News

2 hours ago

The economy of his country is in a state of collapse, Sarda said, which he said is evidence of the validity of his expectations.

As quoted by "Russia Today," the comments of the expert Ahmed Husseini, made to the site, "haqqin.az" Russian, the current strikes in the country at the level of commercial sectors seriously threaten the Iranian economy.

"The wave of protests and strikes has reached the northern provinces, mainly inhabited by Azerbaijanis, and carpet and gold traders have announced a strike," he said.

"After the US withdrawal from the nuclear agreement in May this year and the expansion of US sanctions against Iran, Iran's national currency lost half of its value. All international companies to stop the import of Iranian oil threatens to inflict a major blow to the economy of the country. "

"The sale of oil accounts for 64 percent of Iran's total exports and is the main source of hard currency entering the country, the dollar and the euro," Hosseini said, referring to the collapse of the economy of a neighboring country, Iran. Era of Saddam Hussein. "

"The central bank of Iran, now under sanctions, faces great difficulties in carrying out financial transactions even within the country, making serious mistakes and misjudgments that have played an important role in bringing the economy into crisis."

"The Iranian central bank and commercial banks took deposits at an annual interest rate of 20 percent or even 23 percent, and when the United States imposed sanctions, banks cut interest rates to 10-15 percent," he said. "Collectively, the Iranians are withdrawing their deposits and buying the dollar and the euro. Foreign exchange shortage ".

"The closure of all licensed currency exchange offices has not helped save the situation, and now the currency is trading in Iranian cities on the black market, which the authorities are trying to fight in vain." Sanctions have made the economic situation unpredictable, so people are afraid to invest in real estate. "He said.

The decline in the value of the Iranian riyal led to a rise in the prices of some imported goods by 100%. While the activity of the Iranian commodity exchange fell to a minimum. The government's decision to raise the fees for leaving the country further exacerbated the problem, al-Husseini said.

"There is no indication that the government knows the way out, everything is heading towards bankruptcy and mass impoverishment of the population ... If the United States has really set the goal of changing the authority and the political system of the Islamic Republic of Iran, the situation is now working for its benefit," Husseini said. The current will support any external intervention, only to get rid of the "regime" and stop the crisis.

http://www.shafaaq.com/ar/Ar_NewsReader/5cbe835a-257f-4a55-9b7e-8dbe50f51c30

There were large protests and rallies the last few days. It looks like government forces moved against them with lethal force, it also appears that the protests have continued anyway. My, we do live in interesting times....

Hey remember a few years ago when the pooroos were promoting the Rial as the next best thing since sliced bread? Hmmm ... come to think of it I think they were pumping the Bolivar then too ... They have stopped talking about the Rupee as well ...