Iran Central Bank Governor claims foreign reserves sufficient for imports

Abdolnaser Hemmati, the Governor of the Central Bank of Iran, stated that the country's foreign exchange reserves are in a stable position. He asserted that Iran can meet its import requirements through the end of Donald Trump's presidency and beyond.

Speaking following an interview with Bloomberg during the IMF and World Bank annual meetings, Hemmati noted a deceleration in inflation during the three months ending in September. He attributed previous inflationary spikes to supply shocks from damaged industrial infrastructure and increased inflationary expectations, which the Central Bank has attempted to manage through monetary tools.

Regarding economic pressures, Hemmati claimed that U.S. efforts to trigger an economic collapse through isolation and sanctions have failed to achieve their primary goal. He also addressed potential declines in oil revenue, stating that the government intends to cover budget deficits through alternative sources, such as asset sales, energy sector reforms, and petroleum product exports.