The 36th Islamic Banking Conference opened Tuesday at the Central Bank of Iran's Abbasabad Museum Garden, with Governor Abdolnasser Hemmati delivering a comprehensive address on the nation's monetary and financial resilience.
Hemmati firmly rejected recent speculation about economic collapse, stating: "I say with certainty that the claim that Iran has entered economic collapse is not true." He emphasized that the country maintains robust foreign currency reserves, including both ongoing revenue streams and undisclosed resources, adding: "We have currency, and we have enough of it."
The Central Bank chief detailed that since the beginning of the current year, over $18 billion in foreign currency has been allocated for essential imports, including staple goods, medicine, animal feed, and industrial raw materials. Last week alone, $500 million was injected into the market, and Hemmati announced the bank's readiness to supply up to $2 billion more if needed to ensure market stability.
On the inflation front, Hemmati acknowledged the tangible burden of rising prices on daily life but stressed that the Central Bank has successfully controlled inflationary momentum through monetary and prudential tools. "Many experts predicted hyperinflation earlier this year given the scale of sanctions and siege, but we did not allow those forecasts to materialize," he said. The current strategy focuses on breaking inflation momentum to pave the way for a sustained downward trend.
Looking ahead, Hemmati announced a forthcoming credit package for Small and Medium Enterprises (SMEs) in the second half of the year to boost employment and offset temporary infrastructure damage.
The governor underscored the Central Bank's five core areas of responsibility—monetary, credit, foreign exchange, regulatory oversight, and payment systems—each vital to economic stability.
Hemmati concluded by rejecting foreign media portrayals of a monetary deadlock, insisting: "Collapse has never happened and will not happen. These claims are psychological warfare, and their dust will soon settle." He reaffirmed the Central Bank's commitment to managing economic challenges through expertise, crisis management, and strategic policy implementation.
