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Iran: Rafsanjani warns of negative consequences of 'economic tsunami'

Tehran, Oct 24, IRNA - Iran's former President Ayatollah Akbar Hashemi Rafsanjani here Friday warned against more negative effects of the ongoing `economic tsunami', which has gripped the world.

"The economic crisis gripping the world is very serious; We should not think that the event worldwide is in our favor; So, we should not be happy over the crisis; Rather, we should be careful that effects of the economic tsunami is managed properly," said Ayatollah Rafsanjani in his second Friday prayers sermon here at Tehran University campus.

"The first wave of the tsunami was drastic slump in oil prices.

Regarding the fact that oil prices increased as high as dlrs 147, sudden fall in the prices should be taken as a big loss," he said.

He advised thinkers, officials, Majlis members and all officials and organs in charge to collectively consider the problem and check its incoming adverse consequences.

He said the country's oil stabilization fund should be strengthened.

"A strong Forex Reserve Fund would help the country's economy in case of eruption of such crises," he added.

He said the "economic tsunami" can sharply increase poverty and hunger worldwide, raise number of the poor and hungry people, encouraging growth in the unemployment rate.

He added that the global economic crisis has been investigated at the Expediency Council session but more careful study of the subject is necessary because it is a highly important issue.

The Ayatollah said big states and economic powers are responsible for the problem and the third world states should not be blamed for it.

... Payvand News - 10/24/08 ... --

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