Improving and directing productive investments towards job creation should be on the agenda

According to monetary news, Ali Salehabadi, Governor of the Central Bank, at the meeting of the Governors of the Central Banks of the G24 member states, said that the main task of international monetary and financial institutions is to revitalize the corona-affected communities and strengthen indicators related to sustainable development. Improving and directing productive investments towards job creation should be on the agenda of the G24 countries in order to increase economic growth.

According to the Central Bank’s public relations report, Salehabadi stated at the meeting, which was held virtually: “The actions of international financial institutions should focus on strengthening foreign trade, supporting sustainable investment and creating employment opportunities given the comparative advantages of developing countries.”

At the meeting, which focused on “improving a sustainable and inclusive economy”, the Governor stressed the need to strengthen the national currency of developing countries, provide practical support to emerging markets and promote trade and commerce between them. And the development of bilateral and multilateral international relations between the G 24 countries should be on the agenda to deal with any possible crises, and financial institutions such as the International Monetary Fund are obliged to play a pivotal role in this regard, according to their inherent duties.

Dr. Salehabadi also pointed to the need for productive investments by oil exporting countries in national infrastructure and infrastructure development and said: “If the sanctions are lifted, the Islamic Republic of Iran is ready to adjust its oil production capacity to market conditions because this will significantly improve investments.” It becomes.

The Governor of the Central Bank of our country in this international meeting also considered the recent approval of the Stability and Economic Recovery Fund in this international group as an effective tool to reform the financing structure of members in key areas.

It is worth mentioning that the annual chairmanship of Group 24, which was the responsibility of the Islamic Republic of Iran for a year until last year, has been entrusted to Guatemala, a member state, since October 2021.

The 24 members are from three regions in Asia, Africa and Latin America, and four more countries have been added in recent years. In this international financial and monetary group, the countries of the Islamic Republic of Iran, India, South Africa, Venezuela, Algeria, Argentina, Brazil, Colombia, Congo, Ivory Coast, Ecuador, Egypt, Ethiopia, Gabon, Ghana, Guatemala, Haiti, Kenya, Nigeria , Lebanon, Mexico, Morocco, Pakistan, Peru, Philippines, Sri Lanka, Syria, Trinidad and Tobago are members.

China is currently a special observer member, followed by Angola, Indonesia, Saudi Arabia and the United Arab Emirates.