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CBI governor: $5.5bn to be added to Iran's Forex Reserve Fund

Tehran, July 10, IRNA -- Iran's Forex Reserve Fund deposit is to increase from dlrs 6.5 billion to dlrs 12 billion by end of this year on March 20, 2005.

Governor of the Central Bank of Iran (CBI) Ebrahim Sheibani said here on Saturday that since 2002, about dlrs 4.5 billion has been drawn from the Fund for implementation of major industrial and manufacturing projects.

Sheibani said about dlrs 800 million had been drawn from the Fund from the time of its establishment to 2002.

He said about eight billion dollars has been approved to be withdrawn from the Fund for different manufacturing projects.

The CBI governor said state-run banks will be privatized after ratification of a related bill by he Expediency Council.

... Payvand News - 7/10/04 ... --

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