[Iran Press TV Latest] The total debt of 11 state-run banks to the Central Bank of Iran has exceeded $32 billion, showing a 10-fold increase over the past four years.
According to records published by the Iranian Labor News Agency (ILNA) on September 26, the biggest debtor is Iran's largest bank, Bank Melli Iran, with nearly $9 billion, followed by Bank Sepah, Iran's oldest, with about $4.8 billion.
Bank Maskan, Bank Keshavarzi, Bank of Industries and Mines and the Export Development Bank of Iran were next with the respective debts of $4.7, $4.1, $3.5 and $1.1 billion.
Private-sector banks had far lower debts, with the biggest being Bank Parsian, which owes about $421 million to the Central Bank.
In addition, the collective debt of state-sector companies to the Central Bank has reached $25 billion.
Posted by Fred 2009-09-28 00:00||
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File under: Govt of Iran
#1 Alan Greenspan been advising Iran on the sly?
Posted by g(r)omgoru 2009-09-28 01:44||
2009-09-28 01:44||
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#2 The top 12 ayatollahs control $6,000,000,000 in assets, all acquired since the "revolution" of 1979. Central banks are compelled to deliver ANY payroll or inventory loan demanded by the clerics. And there are no regulators to prevent price-fixing or monopolization. The pistaccio nut industry prices for ayatollah profit.
Posted by Elmaimp Bonaparte2883 2009-09-28 15:53||
2009-09-28 15:53||
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#3 The IRGC actually controls a larger percentage of the Iranian economy than the clerics.
A lot of this debt can be attributed to government subsidies of gasoline and 'grants' to the poorer regions of Iran by the current government.
Posted by Pappy 2009-09-28 21:23||
2009-09-28 21:23||
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#4 As in social payoffs to keep the citizens' whining to a dull roar as they roared ahead with their ill-afforded nuke program?
Posted by gorb 2009-09-28 21:25||
2009-09-28 21:25||
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#5 Essentially. "Dinnerjacket" personally promised cash awards to various places either late last year or early this year, against the advice of the central bank.
Of course it's not just gasoline that's subsidized.
Posted by Pappy 2009-09-28 21:29||
2009-09-28 21:29||
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[Iran Press TV Latest] The total debt of 11 state-run banks to the Central Bank of Iran has exceeded $32 billion, showing a 10-fold increase over the past four years. 