05242018Thu

The truth about Iran’s resistance economy

Iran Focus

London, 11 May - A high-ranking member of the Iranian Revolutionary Guards Corps’ (IRGC) main engineering arm has claimed that they will complete 40 large projects in the next 12 months in industries like oil, gas, water management, road/railway construction, and information technology.

General Ebadollah Abdollahi, the commander of Khatam al-Anbia Construction Base, said that the 10 projects that they will undertake for the Oil Ministry alone will raise them $22 billion.

Iran Focus

London, 27 Apr - A number of reports this week have suggested that the economic crisis in the Islamic Republic of Iran is very much ongoing, in spite of the government’s effort to restrict foreign currency exchanges and otherwise interrupt the collapse in the value of the rial.

Earlier this month, the Iranian national currency fell to an exchange rate of more than 60,000 rials to the dollar, representing about half the value it had maintained last September. The government subsequently set an artificial rate of 42,000 rials to the dollar and banned currency traders from altering it. But EA Worldview reported on Tuesday that such stopgap measures had failed, with a number of exchanges opting to close down instead of adhering to the artificial rate.

Iran Focus

London, 18 Apr - Chaos is still rampant in Iran’s foreign exchange market a week after the Iranian Government artificially set the currency exchange rate at 42,000 rials to the US dollar.

This move, which Paris-based economist Fereidoun Khavand described as “a very dangerous game”, was an attempt by the Hassan Rouhani administration to control the incredible devaluing of the rial. The rial hit an all-time high of 61,000 rials to the dollar on April 10.

Iran Focus

London, 20 Apr - The exchange rate for Iran’s rial dropped its lowest ever price on April 9, at 61,000 to the dollar.

The following day, the Iranian govrenment artificially fixed the price at 42,000 and threatened to arrest anyone caught selling at a different price.

This was no empty threat. government arrested some money exchangers for flouting the rules, with some mullahs even calling for the death of the vendors.

Iran Focus

London, 10 Apr - New data revealed by Iran’s largest banks shows that a banking crisis is happening in the country, with big-name financial institutions experiencing horrific losses and being unable to even pay the interest on deposits.

So far, the banks on the Tehran Stock Exchange have reported operating losses of $4.5 billion; a figure that has only gotten worse in previous years and looks set to continue for the years to come.

This crisis was revealed by all of Iran's ten biggest banks — Tejarat, Saderat, Mellat, Parsian, Sarmayeh, Eghtesad-e Novin, Gardeshgari, Dey, Ghavamin and Iran Zamin — but it’s especially prevalent for Mellat and Saderat banks.

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North Khorasan Province, Iran. May 22, 2018, the Nationwide Strike of Heavy Truck Drivers

Yazd, Iran. May 22, 2018, the Nationwide Strike of Heavy Truck Drivers

Bandar Abbas, Iran. May 22, 2018, the Nationwide Strike of Heavy Truck Drivers

Pasargadae, Iran. May 22, 2018, the Nationwide Strike of Heavy Truck Drivers

Iran-Bandar Lengeh, May 22, 2018, the Nationwide Strike of Heavy Truck Drivers

Iran-Isfahan, May 22, 2018, the Nationwide Strike of Heavy Truck Drivers

Iran,Isfahan, Apr. 10, 2018. Farmers' Protest Rally Continues

Iran,Isfahan, Apr. 10, 2018. Farmers Stage Major Protest Gathering in Khourasgan Square

Iran – the Portrait of Khamenei and Khomeini Was Set on Fire

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Ahvaz, 29 Mar, Peaceful Demonstration of People Faces With Brutal Clashes by the Security Forces

IRAN, AHVAZ, Mar 27&28 People Clash With Security Agents Who Wanted to Destroy Their Houses

WARNING - VULGAR LANGUAGE March 13 - Tehran, NW #Iran‌ Protesters Celebrating #FireFest and Clashing

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March 13 - Qazvin, NW #Iran‌ Protesters Starting #FireFest, Defying Authorities Banning Such #4Shanb

Iranian Opposition Organises Protest Against Presence of Iranian Justice Minister at UN in Geneva

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Iran: Kian Tyre factory workers protest overdue wages

Iran Protests- Jan. 5, 2018 City of Tabriz, Protests Inside the Football Stadium

Iran Protests- 5 Jan 2018 - Crowd Chants Slogan Against State Security Forces