Discontent over economic conditions

Ahmadinejad agrees to raise interest rate to 21 percent

Reuters - Iranian President Mahmoud Ahmadinejad agreed to increase bank interest rates on Wednesday, hoping to halt a spiraling currency crisis intensified by new Western sanctions. "The economy minister has announced Ahmadinejad has agreed with the approval of the Money and Credit Council to increase interest rates on bank deposits to up to 21 percent," the official IRNA news agency reported. >>>


from Ghormeh Sabzi
25-Jan-2012
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JustAnIranian

Too little, too late

by JustAnIranian on Wed Jan 25, 2012 06:35 AM PST

Too little, too late


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Esfand Aashena

Dunno who is more stupid Ahmadi or Khamenei who let's him!

by Esfand Aashena on Wed Jan 25, 2012 05:39 AM PST

This possibly can't get any worse.  From day 1 Ahmadinejad has taken the worst economic AND political decisions anyone in charge can make.  Failure upon failure.  And now this, 21% interest rates to boost the inflation and reduce the incentives to give loans.  How much is the interest on loans now?!

Now Khamenei is like a stubborn mule who can't bring himself to cut Ahmadinejad loose because he is the one supporting and approving him in the first place.  Forrest Gump is running Iran's economy! 

Everything is sacred


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Faramarz

Blackjack Economics!

by Faramarz on Wed Jan 25, 2012 05:08 AM PST

21% of a worthless piece of paper is still a worthless piece of paper.


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G. Rahmanian

I heard it was 22%!

by G. Rahmanian on Wed Jan 25, 2012 05:03 AM PST

The percentage point is not an issue, anymore. The banks don't have money.


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Maryam Hojjat

Solution: Fall of IRR

by Maryam Hojjat on Wed Jan 25, 2012 04:44 AM PST

Things are getting worse than you see.


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