IRAN

 

Iran’s SWF Could Have $50Bn In Reserves By March 2013

The newly appointed managing director of Iran’s National Development Fund (NDF), Mohammad Reza Farzin, has said that the fund’s reserves in foreign exchange will rise to $50bn during the year ending March 2013 from about $30bn at its beginning. The rise in the balance in this sovereign wealth fund (SWF) will come from the allocation of 23% of Iran’s oil revenue during the year. Mr Farzin added that...