Code: 702599 A

Iranian President's Chief of Staff Mahmoud Vaezi, has reassured the establishment of Special Purpose Vehicle (SPV) by the end of 2018.

"They (the Europeans) would set up the mechanism, and they told us that in the upcoming two or three weeks, it would start operating," Vaezi told reporters on the sidelines of the weekly Iran cabinet meeting.

"The European countries, their leaders, foreign ministers and economic officials have all expressed the importance of establishing SPV in their contacts with Iranian officials," said Vaezi.

He further noted that Iran was informed by the European side about the problems and the US pressures on the Europeans.

"But we have not witnessed any intentional delay on their side,” Vaezi noted.

The Iranian official also referred to the basic goods which are being imported by the official foreign currency rate and said that the official rate will be allocated for import of 25 basic goods items in the new budget plan, because it is very important for Iran to meet the needs of people.

"The drop of foreign currency rate continues and the commodity prices should be reduced,” he said.

"We hope to form a good budget plan to cover all aspects and help employees and those that are retired," said the official.


SPV Special Purpose Vehicle
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