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MRC Delves Into Impervious Problem of Unpaid Forex Loans
The Majlis Research Center (MRC), the parliament’s think tank, says the National Development Fund of Iran must resist calls for partial payment by all those who have taken out forex loans.
In a report posted on its website, the MRC said collecting forex debt has long been a big challenge for the sovereign wealth fund.
The bad situation has become worse due to the sanctions-plagued economy and huge fluctuations in currency rates in the past decades. Over the past few months forex rates have jumped to historic levels.
NDFI is independent of the government and was set up in 2011 to curb dependency on oil and save a percentage of the earnings from oil and gas exports for future generations.
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