Tehran, Dec 6, IRNA – Managing Director of the Export Guarantee Fund Taher Shah-Hamed pointed to the 30% increase in insurance coverage in the first eight months of the current year and said during the period about 14 thousand billion rials of export insurance coverage has been presented.
He said despite lack of attention on the part of government for increasing the capital of the Export Guarantee Fund, its support for export development has increased notably by 30% in the first eight months of the current year in comparison to the same period last year.
He said the current capital of the fund stands at about $195 million or over 4,870 billion rials, adding that in case of observing the world index of export credit and investment insurance, the fund can undertake commitments seven times more than its capital.

Shah-Hamed further remarked that meanwhile undertakings of the fund at the end of the first eight months of the current year was over 48 thousand billion rials, adding that currently about 11 times more than the capital of the fund is in risk and with regard to the index of risk disclosure it is moving ahead above the conventional world standards.

However, he added, despite such limitations the fund has never stopped its insurance support with regard to the export and investment of Iranians living abroad and always tries to meet demands of the exporters under the adverse conditions.

The fund managing director criticized lack of improvement of risk rating of Iran by international forums and said although the government has been successful in control of inflation and has presented good plans to come out of the recession.

Although monetary and macro economy indices show positive prospects, their effects on reducing investment risk of the country are not tangible yet and Iran is at present in the seventh group of risk rating of countries along with highly risk-prone African countries as well as Afghanistan and Iraq, he stressed.

By IRNA

 

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