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Iran Not 1st Country to Lop Zeros Off National Currency

National Currency

West Germany was the first country to see zeros removed from its national currency as it was gripped by galloping inflation after World War II ended. Accordingly, the new Deutsche Mark hit the market. Afterwards, especially from the 1960s and 1970s onward, the same measure was adopted in different countries, mostly developing nations.

Countries whose economies was suffering from spiraling inflation and whose currencies were fast losing value began to chop zeros off their monetary units in order to make economic and commercial transactions easier and reduce costs. Most economists believe lopping zeros from banknotes will have no influence on economic indices as well as supply and demand, and that such a move mostly has a psychological effect on society.

Turkey, which lies next to Iran, had a similar experience which is worth studying. A European country with a social fabric of developing nations. Turkey removed six zeros from its currency in 2005. Inflation began to grow in Turkey in the early 1980s and kept spiraling on. Each US dollar was exchanged for 1,422 old Turkish Liras in 1988, which rose to more than 5.1 million old Turkish Liras in 2003. Reports suggest that in the early 21st century, Turkish people had to pay several Liras to buy a loaf of bread. Finally, six zeros were lopped off Turkey’s currency in January 2005 when the new Lira replaced the old one.

One of the countries which is a record-holder in terms of the number of zeros chopped off its national currency is Argentina, which had a failed experience in that regard. The country removed two zeros in 1970, four zeros in 1983, three zeros in 1985 and four zeros in 1992 from its national currency. Even the removal of all those zeros did not save Argentina from emerging inflations and the country is suffering from rampant inflation at the moment as well.

After Argentina, Brazil is another country which removed a large number of zeros from its monetary unit. Brazil had lopped three zeros off its national currency back in 1942. It removed another three zeros in 1967. Brazil got mired in raging inflation in the 1980s due to enormous amounts of debt. The country removed another six zeros, in total, in 1986 and 1989. As the move was not sufficient to rid the nation of the crisis, Brazil chopped off another three zeros in 1993.

Venezuela, too, slashed three noughts from its currency in 1997; nevertheless, the inflation rate in the country has risen from more than 24 thousand percent to over 815 thousand percent. According to the United Nations, upwards of 2.3 million Venezuelans have fled the country due to the economic crisis, poverty and hunger.

Zimbabwe: A Complete Fiasco

The Zimbabwean government knocked off three zeros from its monetary unit in 2003 when the inflation rate in the country hovered around 1,000 percent. Still, the government has, so far, not taken any action to curb inflation and has simply relied on the psychological impact of the removal of the zeros. Obviously, that psychological effect soon faded among people and galloping inflation wrecked the country’s economy, so much so that the Zimbabwean dollar collapsed. At the moment, the inflation rate in the African country has crossed the 11 million percent mark. This comes at the time when the country’s central bank says it has no longer any banknote paper available to print currency.

Knocking off Noughts from Iran’s Currency

The idea of lopping off zeros from Iran’s national currency (the Rial) goes back to the 1990s when the Central Bank of Iran put the issue on its economic agenda. However, some authorities disagreed with the move; so, planned studies into the initiative were called off. The reason behind floating the idea of removing zeros from the national currency was the high inflation at the time which was brought about by the plan to open up

the economy, shockwaves on the oil market created after the Cold War, and petro-dollars being funneled into Iran’s economy in the fifth and sixth administrations.

And now, the plan is going to be implemented in the country at a time when the coronavirus crises have gripped all countries the world over and Iran’s inflation rate stands at 34.8 percent. Based on the initiative, four zeros will be lopped of the Iranian Rial, and each 10,000 Rials will equal 1 Toman

Afte receiving approval from Parliament, the plan will get off the ground two years’ from now and the Toman will become the nation’s official currency.

Iran to Unveil Geomatic Coronavirus Detection System

Iran to Unveil Geomatic Coronavirus Detection System

The geomatic system will be used to detect the virus in infected individuals using devices such as smart health modems and wristbands.

The apparatus is also capable of measuring body temperature, the heart beat and blood oxygen levels, said Reza Alahvern, the head of the Health, Relief and Treatment

Department of the Ministry of Defence and Armed Forces Logistics.

He said the geomatic system can also monitor and control epidemics other than the coronavirus.
He made the comment while expounding on the activities of the department with regards to the fight against COVID-19.

“In line with responsibilities entrusted to the defence ministry by the National Coronavirus Headquarters …, the ministry began producing PCR molecular detection kits two months ago, and mass-produced them after receiving the necessary licences from relevant authorities as well as the Pasteur Institute of Iran,” he noted.

He said some 6,000 people have, so far, been screened for the novel coronavirus at Armed Forces medical centres using these kits, adding 500 infected cases have been identified and put under treatment.

He said the kits have 95% sensitivity, are 100% exclusive and have very high capability of diagnosing the disease. He said the defence ministry is capable of producing between 30,000 to 50,000 of these kits per day.

Elsewhere in his remarks, the official said Iran has been very successful in handling the coronavirus crisis in comparison with other countries.

He said US sanctions against Iran as well as other concerns caused by the COVID-19 pandemic have enabled the country to manage the situation well.

He said the defense ministry has, so far, suppled three million N95 masks as well as 3.5 million litres of disinfectants to medical centres.

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“In addition to essential items, the ministry has provided medical cenres across the nation with some 120,000 protective gear, 600 monitors and suction devices, 40 thermal scanners and a large number of positive-pressure garments and stretchers used to carry patients,” he said.

He also said some 30 thousand ventilators are produced in the country every day.

Iran Says UN Security Council’s Violation of JCPOA Not Acceptable

Iran Once Again Rejects Claims of Meddling in US Elections

Speaking in a press conference on Monday, Ali Rabiei said the violation of the nuclear deal will definitely be unbearable for the Islamic Republic of Iran because the consequences of this move would absolutely defame the international body in ensuring the international security.

The government spokesman referred to Washington’s bid to have arms embargo on Iran extended, and said Tehran has a vast range of options in reaction to a possible extension of the sanctions, and will look into every scenario.

“We can predict that the smallest consequence of such a hostile and wrong decision will be very dire for the US, and of course the international stability. I reiterate that the Islamic Republic of Iran is independent in its defence industry, but this will not convince us to let the violators of the international law escape the costs.”

Regarding Iran’s possible withdrawal from the accord, Rabiei noted it is too early for such decisions. “Iran has not made any decision to withdraw from the JCPOA in reaction to the extension of arms embargo,” underscored Rabiei.

“About our reaction and the options we have, we will definitely make decisions after considering the current procedures.”

He said that Tehran’s initial take is that the remaining parties to the nuclear deal and the members of the UN Security Council are fully aware of the United States’ coercive and unjustifiable request.

“This is our initial take today after holding several negotiations. We believe they do not want to accompany the US regime in violating the principles of international regulations and agreements,” he continued.

Elsewhere in his statements, Rabiei spoke about the US malevolent approach to deal with the Islamic Revolution.

He said when the Islamic movement was founded based on nation-government principles after the victory of the Islamic Revolution, and once a model of nation-government was formed based on democracy, the US regarded such conformity as threatening.

Therefore, Rabiei stressed, they used every opportunity to undermine the theories that the Islamic Republic represented. “They reinforced the radical extremist movement against this.”

He went on to say that such an approach began in Afghanistan when a combination of Mujahedeen and others were fighting the Soviet Union army.

“Al-Qaeda was the offspring of such a movement and we had information that Al-Qaeda was first reinforced by the CIA, and then the European countries started to cooperate in this regard. The Taliban was also the result of this process. Then, the ISIS came into existence. The ISIS was the next generation of the Al-Qaeda. Usually, such movements have been to the detriment of the US in the long run. The people of the United States must know that either 9/11 or today’s ISIS are nothing but the product of defective programming of US intelligence services,” reiterated the Iranian spokesman.

Elaborating on the emergence of ISIS, he stated, “We believe since the rise of the ISIS the United States and its spy agencies had a direct or indirect role in forming and supporting the group.”

“Today, there are many documents available to the people across the world to prove this fact. On the one hand, they help them [ISIS], and on the other hand they attack them. The most touchable assistance of the US to ISIS is to fight those who played a key role in defeating this group in Iraq.”

He further pointed out that this is a game by the United States which will turn against them. We are sure the US will fail in this malevolent act too, he underlined.
He said in a near future, the Americans will come to the conclusion that such a move is not right. The Islamic Republic advises them to stop such approaches instead of dipping more into a quagmire that would lead to further insecurity and waste of US taxpayers’ money.

“They should make an effort to deal with the fact, and respect the people of the whole region. Iran is the major country to maintain stability and security in the region. Certainly, we have sought nothing, but peace and security in the Persian Gulf and other countries,” concluded Rabiei.

Five Iranians Jailed Abroad on Bogus Charges of Military Activities, MP Says

Five Iranians Jailed Abroad on Bogus Charges of Military Activities, MP Says

Rapporteur of the Iranian Parliament’s National Security and Foreign policy Commission Hossein Naqavi Hosseini has provided details of the topics discussed in a Monday session of the parliamentary commission, which was attended by the deputy Defense Minister.

According to the lawmaker, the deputy minister has said that at present, at least five Iranian citizens are being held in detention in the foreign countries on bogus charges of military and defense activities. 

The deputy Defense Minister has said that more than 30 Iranian nationals had been taken into custody abroad because of the US’ hostile behavior, but the coordinated and effectual efforts from the Iranian organizations, including the Ministry of Foreign Affairs, yielded results in many cases, the MP noted.

On the case of Iranian scientist Sirous Asgari who is behind bars at a US immigration jail, Naqavi Hosseini said the academic has been a victim of American hostility and rancor, noting that Asgari has been acquitted of all charges in connection with alleged illegal activities.

The MP then noted that a representative of the Intelligence Ministry has also taken part in the Monday session of the parliamentary commission and has given a report about the US’ hostile policies against the Iranian citizens, particularly those who have played a role in the transfer of technologies into Iran.  

“The Americans also make use of the intelligence services of the other countries in this regard,” the lawmaker quoted the Intelligence Ministry representative as saying. 

Elsewhere in the Monday meeting, the Foreign Ministry representative has confirmed that the problems surrounding the case of Dr. Asgari have been resolved and the Iranian elite scientist will definitely return home as soon as he tests negative for the coronavirus, Naqavi Hosseini said.

The obstacles to repatriation of the Iranian scientist have been removed and he will be certainly taken back to Iran, but his travel should be given careful consideration since he suffers from heart disease, the MP noted.

In comments at a press conference on Monday morning, Iranian Foreign Minister spokesperson said Dr. Sirus Asgari, who has reportedly contracted COVID-19, will return to Iran as soon as possible.

Abbas Mousavi said the ministry has taken steps to follow up on his situation, while the Interests Section of the Islamic Republic of Iran in Washington is closely monitoring his situation through US judicial officials.

“He is going to go through a corona test today and tomorrow, and God willing, if his test is negative, all the necessary measures will be taken to return him to the country,” added Mousavi.

Iran Discusses Resumption of Trade Ties with Turkey, Azerbaijan

Iran Discusses Resumption of Trade Ties with Turkey, Azerbaijan

Mahmoud Vaezi on Monday called on Turkey to resolve the problems of trucks at the border.

In a telephone conversation with Turkey’s Trade Minister Ruhsar Pekcan, Vaezi spoke about the problems of Turkish trucks left behind Turkish border. The two sides also exchanged views on the movement of Iranian trucks at the Turkish-Bulgarian border to load perishable goods in the port of Mersin.

In this conversation, it was decided to resolve the problems of the trucks carrying perishable materials on Tuesday.

Vaezi and Pekcan also agreed that the process of transportation and transit between the two countries continues within the framework of the health and hygiene protocols.

In a separate telephone call, Vaezi held negotiations with Deputy Prime Minister of Azerbaijan Shahin Mostafayev about the ways to speed up resolution of problems caused by the COVID-19, especially the ones affecting the transit route of goods as well as rail, sea and land transport between the two countries.

The two sides also decided to resolve these problems within the next two days, based on the health protocols that have been developed.

They further stressed the process of joint trade and business cooperation be facilitated.

In this conversation, the Deputy Prime Minister of the Republic of Azerbaijan also announced the president of the country has ordered the allocatation of five million dollars to provide the goods needed by Iran to fight the coronavirus.

US’ Defunding of WHO ‘Strategic Mistake’, Iran Tells NAM Summit

US’ Defunding of WHO ‘Strategic Mistake’, Iran Tells NAM Summit

The meeting started with a speech by President Ilham Aliyev of Azerbaijan Republic as the President of the 18th Summit of the Non-Aligned Movement.

Given that the Non-Aligned Movement includes 120 countries, the Summit was held in the format of a Contact Group with the participation of countries in Europe, Asia, Africa and Latin America, based on the principle of geographical representation.

Representatives from 40 countries attended the online meeting, including 19 presidents, a vice president, six prime ministers, a deputy prime minister, eight foreign ministers and an interior minister.

Tijjani Muhammad-Bande, the President of the 74th General Assembly of the United Nations, António Guterres, Secretary-General of the United Nations, and the Director-General of the World Health Organisation also delivered speeches and messages to the NAM leaders.

Among the main speakers of the summit was President Rouhani of Iran, who presented a report on Iran’s performance in containing and fighting against the novel coronavirus.

In his speech, he also lashed out at the US administration for defunding the World Health Organisation amid the global fight against the COVID-19, and described it as a strategic mistake.

What follows is the full text of President Rouhani’s speech:

In the name of God

Excellencies,

Ladies and gentlemen,

At the beginning of my speech, I would like to thank Mr Ilham Aliyev, honourable President of Azerbaijan, for arranging this summit and for helping my country in the fight against COVID-19. I would also like to thank all member states of the Non-Aligned Movement and other countries that have helped each other in the global fight against the international threat of COVID-19.

Global experience in combatting COVID-19 has shown how a contagious disease can threaten all countries in the world, regardless of border, nationality or race, and endanger the health of every single person in the world. This is a serious warning to all countries that human beings are sufficiently exposed to major threats such as environmental degradation, global warming and natural threats such as coronavirus, and it is time that pressure and threat, terrorism-nurturing, pressure on nations in the form of economic terrorism and military threats, give way to bilateral, multilateral and international cooperation to combat real and common threats. This experience has shown that the vulnerability of global powers that have filled their arsenals with weapons of mass destruction is no less than other countries to the threat of a contagious disease such as COVID-19 if not more.

With such a view from the very first days of the outbreak of the virus in the world, the Islamic Republic of Iran, while cooperating with the World Health Organisation and in accordance with the International Health Regulations (IHR), prepared a targeted national strategic plan to fight this virus and cooperate with other countries. This strategic plan includes the following:

1- Responding to the crisis with the participation of all responsible institutions, social participation, inter-sectoral cooperation and public health approach;

2- National fight against COVID-19 with methods of registering cases through telephone and internet surveys, employing 170,000 employees in the health department, appointing one thousand comprehensive and selected health centres, creating a system for self-screening and launching quarantine units to identify COVID-19 cases and offering complementary treatment;

3- Creating a network for diagnosing and managing the disease, including laboratory tests and diagnostic algorithms;

4- Implementing social distancing policies;

5- Managing health and biomedical research;

6- Providing support packages for low-income and less advantaged groups affected by the restrictions;

As a result of these measures, the Islamic Republic of Iran has succeeded in effectively preventing the spread of the virus in many cities and regions throughout the country, and the performance of the Islamic Republic of Iran in combatting and controlling the virus has been assessed in cases beyond international standards. Of course, the targeted measures of the Islamic Republic of Iran to deal with the spread of this virus continues in the country and the region.

Ladies and gentlemen;

At a time when coronavirus has become a common threat to global security and public health, and the World Health Organisation is at the forefront of the global fight against coronavirus, weakening the World Health Organisation means weakening the global fight against coronavirus, and is an untimely and unjustifiable move. The US government’s hasty and irresponsible move to deprive the World Health Organisation of the funds it needs should be seen as another strategic mistake by the government that poses challenges to the common global fight with coronavirus. Of course, nothing more can be expected from the US government, which has unilaterally withdrawn from valid international agreements and repeatedly violated international law.

For years, the United States has imposed unilateral and illegal sanctions, not only depriving the Iranian people of access to their rights, but also threatening multilateralism and international cooperation. While all countries in the world are planning and cooperating to counter this threat and supply the items they need from other countries, Iran is also looking to supply its own medical requirements and equipment according to its medical needs, but unfortunately, due to US’ illegal and unilateral sanctions, companies producing these items are not able to offer their products to Iran when needed. Due to this anti-human rights action by the United States, the provision of medical supplies for Iran has naturally been longer and sometimes impossible, and Iran’s targeted programme to combat the spread of the virus has become difficult and challenging.

From here, I would like to thank all the doctors, nurses and medical staff in the Islamic Republic of Iran and all the countries that are at the forefront of the fight against this virus. I must emphasise that the Islamic Republic of Iran declares its readiness to cooperate with all countries in the world in order to develop the vaccine and a treatment for this virus, and welcomes any request for cooperation.

In the end, I once again thank my dear friend Mr Ilham Aliyev, honourable President of Azerbaijan, as well as other high-ranking officials and delegations for participating in this meeting, and invite all countries to cooperate and help each other in the fight against this virus, wish you health and hope to see the virus eradicated as soon as possible.

Peace be upon you and God’s mercy and blessings 

 

A Look at Iranian Newspaper Front Pages on May 4

Iranian Newspapers

Iranian Newspapers

Abrar Newspaper:

1- Rouhani: Mosques to Reopen Today in 132 Counties

A Look at Iranian Newspaper Front Pages on May 4


 

Aftab-e Yazd Newspaper:

1- Playing with Fire: Lawmakers to Impeach Oil Minister

2- Analyst: China, Russia Will Support Iran Only If It Remains in NPT

A Look at Iranian Newspaper Front Pages on May 4


 

Ebtekar Newspaper:

1- Iran Gives Ultimatum to UNSC over JCPOA

* Continued Arms Embargo to Sound Death Knell of JCPOA

2- Netanyahu’s Decisive Day

A Look at Iranian Newspaper Front Pages on May 4


 

Etemad Newspaper:

1- Amazing Day with Volunteers Who Wash Dead Bodies of Corona Victims

2- Iran’s COVID-19 Fatality Rate Reaches 6.5%

3- Corona, Double Pain for Yemen

* Saudi Blocking Humanitarian Aid Delivery to Sana’a

A Look at Iranian Newspaper Front Pages on May 4


 

Ettela’at Newspaper:

1- Analyst Discusses How Coronavirus Will Change World

2- Iraq PM: I Swear I Won’t Let Blood of Hashd al-Sha’abi Be Wasted

A Look at Iranian Newspaper Front Pages on May 4


 

Iran Newspaper:

1- Iran Leader to Deliver Speech at Quds Day

A Look at Iranian Newspaper Front Pages on May 4


 

Javan Newspaper:

1- Stock Exchange Market Thriving in Iran!

2- Int’l Quds Day Rallies Won’t Be Called Off, Just Will Be Held in Different Form

A Look at Iranian Newspaper Front Pages on May 4


 

Jomhouri Eslami Newspaper:

1- Russia: US Efforts to Extend Iran Arms Embargo Futile

A Look at Iranian Newspaper Front Pages on May 4


 

Kayhan Newspaper:

1- Public Mobilization Declared in Iraq against US-ISIS Joint Operation in Saladin

2- National Interest: Trump Hasn’t Achieved Even One of His Iran Goals

A Look at Iranian Newspaper Front Pages on May 4


 

Rooyesh-e Mellat Newspaper:

1- Iran Condemns ISIS Criminal Act against Hashd al-Sha’abi

2- Setad Foundation: We’re Close to Producing Vaccine for Coronavirus

 

A Look at Iranian Newspaper Front Pages on May 4


 

Sazandegi Newspaper:

1- Ignoring Khatami or Inviting Him? Purposes Behind Criticisms against Reformist Leader

A Look at Iranian Newspaper Front Pages on May 4


 

Setareh Sobh Newspaper:

1- Churches in Germany, Mosques in Iran to Reopen

2- Good Corona News: 24-Hour Fatalities Down to 47

A Look at Iranian Newspaper Front Pages on May 4


 

Shahrvand Newspaper:

1- Lake Urmia Won’t Dry Up in Future

A Look at Iranian Newspaper Front Pages on May 4


 

Shargh Newspaper:

1- Politician Discusses Post-Reformism Movement

A Look at Iranian Newspaper Front Pages on May 4


 

Vatan-e Emrooz Newspaper:

1- A Spy for Zionists

* Iran Must Take Action against German Ambassador to Tehran

* Ambassador Was Intelligence Officer, Had Suspicious Ties with Tel Aviv

A Look at Iranian Newspaper Front Pages on May 4

Iran Marks National Day of Shiraz

Shiraz; A Must-See Hub of Culture, Civilization
Shiraz; A Must-See Hub of Culture, Civilization

The spectacular city of Shiraz is not only home to many cultural, historical and literary attractions, but also has a very beautiful nature.

The spring’s middle day, 15th of Ordibehesht – which falls on May 4 this year – is called the National Day of Shiraz.

What follows are Mizan News Agency’s file photos of the city released on the Shiraz National Day. The photos are not recent, as the city’s recreational and tourist attractions are currently closed due to the coronavirus outbreak.

Iranian Official Warns of Second Wave of COVID-19 in Autumn

Iranian Official Warns of Second Wave of COVID-19 in Autumn

Director of the Contagious Disease Department at Iran’s Ministry of Health and Medical Education said in an interview with IRNA on Monday that the second wave of COVID-19 will begin in autumn, although the first wave of the disease is going to die down in June with sporadic cases of infection in the springtime.

The coronavirus infection rate in Iran has been on the decline over the past three weeks, but the epidemic is not still over, Hossein Erfani noted.

“We predict that after a relative containment of the disease and its decline through the month of Khordad (May 21 – June 20), sporadic cases of the disease would occur in the society, but it will not be fully eradicated,” he added.

Erfani explained that the fluctuations in the infection rate following the outbreak of coronavirus in Iran in February do not translate into new waves, saying the real second wave is expected in this year’s autumn as the weather gets colder.

The Iranian official said the second wave of COVID-19 in autumn is expected to follow the same pattern as seasonal influenza, which breaks out in November and December every year.

The Health Ministry is gearing up for the second wave of coronavirus in autumn and has begun to prepare the necessary medical equipment to prevent, diagnose, and treat the disease, he added.

The protective and treatment supplies in outpatients, the necessary equipment for hospital admissions, and the plans to prevent and control the emergencies will be fortified in all areas, so that the medical centers could tackle the second wave with full preparedness, he stated.

The main conditions for containing the coronavirus disease are cooperation from people, coordination among the domestic sectors, strengthening the health system, and providing the necessary medical and treatment supplies, Erfani concluded.

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Iran Confirms over 1,200 New COVID-19 Infections

Over 290,000 Iranians Infected by Novel Coronavirus: Ministry

Kianoush Jahanpour said on Monday 74 people have died of the virus during the past 24 hours, bringing the total number of fatalities to 6,277.

He said 79,397 patients have so far recovered from the disease and been discharged from the hospital.

According to the spokesman, 2,676 patients are in severe conditions of the disease.
So far 508,288 COVID-19 tests have been taken across the country, he added.

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