CBI chief urges G24 to direct investment to employment
Central Bank of Iran (CBI) governor urged the members of the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G24) to direct generative investments to job creation in order to increase economic growth.
Speaking in the virtual meeting of central bank governors of G24 on Wednesday, Ali Salehabadi said that the international financial institutes should be focused on enhancing foreign trade, supporting sustainable investment, and creation of job opportunities in accordance with the comparative advantage of developing countries.
He highlighted the necessity to strengthen the national currencies of developing countries, support emerging markets, and encourage business transactions between them.
Salehabadi also called on the G24 to be ready to confront possible crises by adopting an approach to deepen and expand bilateral and multilateral international relationships between member states.
Iran is ready to pitch its oil production according to the market condition if sanctions are removed because this could lead to improvement of investment, CBI Governor said, noting the necessity of investment in national infrastructure by oil exporting countries.
G24 consists of 24 developing countries from Asia, Africa, and Latin America, as well as 4 observing members.