Iran’s sovereign wealth fund now stands at $150 billion dollars

[aryobarzan]

Great news : few years back it was at $99 billion dollars..I think every year 30% or 35 % of Iranian Oil sales automatically gets deposited in this account. Oil price rise has boosted this number now to $150 billion.

Iran’s sovereign wealth fund says it has assets worth $150bn​

Sunday, 28 May 2023 7:42 PM [ Last Update: Sunday, 28 May 2023 7:42 PM ]

Photo shows a sign of the National Development Fund of Iran.
Iran’s sovereign wealth fund has rejected claims it has been depleted of resources by saying that assets owned by the fund is worth some $150 billion.
In a statement issued on Sunday, the National Development Fund of Iran (NDFI) said that it had attracted some $154.5 billion worth of resources since 2010 when it was formed.
The statement said loans granted to successive administrations in Iran had reached $100.8 billion between 2010 and late March 2023.
It added that the Fund had also granted loans worth $40 billion to the private sector and non-governmental entities in Iran.
“That means that the NDFI is currently a fund worth $150 billion,” said the statement, adding that it will exhaust all measures to force borrowers to accelerate the repayment of the loans they have received from the Fund.
The statement said the fund has also introduced major investment projects in recent years to boost its resources and earnings.
It comes after reports published in local media suggested that the NDFI had only $10 billion in resources in an account held in the Central Bank of Iran.
The NDFI operates independently of Iranian government’s budget. Its main mission is to use Iran's oil and gas export revenues for infrastructure and productive projects that could benefit future generations in Iran.
That comes as US sanctions on Iran’s oil exports have caused a decline in earnings of the NDFI since 2018 when the sanctions were imposed.

 

[Hack-Hook]

Great news : few years back it was at $99 billion dollars..I think every year 30% or 35 % of Iranian Oil sales automatically gets deposited in this account. Oil price rise has boosted this number now to $150 billion.

Iran’s sovereign wealth fund says it has assets worth $150bn​

Sunday, 28 May 2023 7:42 PM [ Last Update: Sunday, 28 May 2023 7:42 PM ]

Photo shows a sign of the National Development Fund of Iran.
Iran’s sovereign wealth fund has rejected claims it has been depleted of resources by saying that assets owned by the fund is worth some $150 billion.
In a statement issued on Sunday, the National Development Fund of Iran (NDFI) said that it had attracted some $154.5 billion worth of resources since 2010 when it was formed.
The statement said loans granted to successive administrations in Iran had reached $100.8 billion between 2010 and late March 2023.
It added that the Fund had also granted loans worth $40 billion to the private sector and non-governmental entities in Iran.
“That means that the NDFI is currently a fund worth $150 billion,” said the statement, adding that it will exhaust all measures to force borrowers to accelerate the repayment of the loans they have received from the Fund.
The statement said the fund has also introduced major investment projects in recent years to boost its resources and earnings.
It comes after reports published in local media suggested that the NDFI had only $10 billion in resources in an account held in the Central Bank of Iran.
The NDFI operates independently of Iranian government’s budget. Its main mission is to use Iran's oil and gas export revenues for infrastructure and productive projects that could benefit future generations in Iran.
That comes as US sanctions on Iran’s oil exports have caused a decline in earnings of the NDFI since 2018 when the sanctions were imposed.

the reality is something a little different

https://www.isna.ir/news/1402022415249/%D9%85%D9%88%D8%AC%D9%88%D8%AF%DB%8C-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%AA%D9%88%D8%B3%D8%B9%D9%87-%D9%85%D9%84%DB%8C-%D9%81%D9%82%D8%B7-%DB%B1%DB%B0-%D9%85%DB%8C%D9%84%DB%8C%D8%A7%D8%B1%D8%AF-%D8%AF%D9%84%D8%A7%D8%B1-%D9%86%DB%8C%D8%B3%D8%AA

به گزارش ایسنا، مهدی غضنفری در سومین همایش حکمرانی نوین صندوق توسعه ملی، که با حضور رئیس مجلس برگزار شد، درمورد میزان دارایی صندوق توسعه ملی توضیح داد: هفته قبل در همایش اقتصاد هوشمند و توسعه مالی گزارشی ارائه کردم مبنی بر اینکه برداشت صندوق توسعه ملی یک صندوق ۱۵۰ میلیارد دلاری است، دولت‌ها از صندوق توسعه ملی ۱۰۰ میلیارد دلار برداشت کرده‌اند و میزان مطالبات صندوق نیز ۴۰ میلیارد دلار است.

وی ادامه داد: از این آمار اینطور برداشت شد که مانده صندوق ۱۰ میلیارد دلار است درحالی که همه دولت‌ها کاملا واقف هستند که تسهیلاتی که با نرخ سود پایین به آن‌ها پرداخت شده است جزو دارایی صندوق است و بلاعوض نیست؛ حتی برخی منابع برگشته است و صندوق توانسته از این منابع برای ارائه وام استفاده کند. درواقع گزارش من درمورد موجودی بود اما به دارایی تبدیل شد. درحالی که مبلغی که تحت عنوان تسهیلات دادیم به صندوق برمی‌گردد.

sadly in the course of years different government looked at it as their personal piggy bank and loaned 100 billion from them and its not clear who must return it .
and they must collect around 40 billion again only god knew who must pay them the money

 

[aryobarzan]

the reality is something a little different

https://www.isna.ir/news/1402022415249/%D9%85%D9%88%D8%AC%D9%88%D8%AF%DB%8C-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%AA%D9%88%D8%B3%D8%B9%D9%87-%D9%85%D9%84%DB%8C-%D9%81%D9%82%D8%B7-%DB%B1%DB%B0-%D9%85%DB%8C%D9%84%DB%8C%D8%A7%D8%B1%D8%AF-%D8%AF%D9%84%D8%A7%D8%B1-%D9%86%DB%8C%D8%B3%D8%AA

sadly in the course of years different government looked at it as their personal piggy bank and loaned 100 billion from them and its not clear who must return it .
and they must collect around 40 billion again only god knew who must pay them the money

The way I understand it.the fund works like a bank..they loan you the funds and you get back the loan with interest..so giving it away as long as you get it back is ok to me..

 

[Hack-Hook]

The way I understand it.the fund works like a bank..they loan you the funds and you get back the loan with interest..so giving it away as long as you get it back is ok to me..

Iran each year have deficit in budget , answer me , which government can return the money ?
why 100 milliards are not returned yet .
why 40 milliard is not being paid to the fund?
why UAE and Norway don't spend it ?

 

[Raghfarm007]

You think Norway just keeps the money in the bank???

They spend it too.... buying American bonds and shares.... they lost huge sums duing the last economic crash when their American inestments went bankrupt.

Norwegians are generally pissed off that not enough of the money reaches the aveage person in the country.

 

[aryobarzan]

Iran each year have deficit in budget , answer me , which government can return the money ?
why 100 milliards are not returned yet .
why 40 milliard is not being paid to the fund?
why UAE and Norway don't spend it ?

At the start of Yemen war Saudi wealth fund was around $750 billion..it went down to $ 450 billion due to war expenses..it is back up again last two years because of extra oil prices..

Point is countries spend this money for major developments or emergencies.important thing is that it should not be used to pay for day to day affairs of goverments like payroll..
I know SL keeps a tight grip on this fund..few months ago he allowed $300 million to be allocated for a section of INSC transportation rail project ...which is great.

 

[HGV]

Two questions

1) how much of that is in liquid assets?

2) does it include any assets held in foreign banks?

 

[mulj]

Why you keep money in that fond at first place? Investment in various infrastucture, green energy, state aparatus and military seems much better idea unless it is smokescreen for activities abroad to divert sanctions and prop up allies.

 

[aryobarzan]

Two questions

1) how much of that is in liquid assets?

2) does it include any assets held in foreign banks?

Iam not certain but 2/3 is probably in foreign frozen banks..#1 ..no idea

Why you keep money in that fond at first place? Investment in various infrastucture, green energy, state aparatus and military seems much better idea unless it is smokescreen for activities abroad to divert sanctions and prop up allies.

It used yo be that all 100% of oil income would go to day to day expanses of government..untill this fund establish..it channels 30 to 35% of oil revenue directly to the fund not available to government ..If you need money from it you need special permission from parlement and SL. A great way to avoid your economy to be oil dependant..