News in Brief
CBI: Iran’s annual economic growth at 4%
IRNA – The Central Bank of Iran announced on Monday that the realization of 4% economic growth in the Iranian year of 1401 (ended March 20) indicates the growth of economic activities across the country.
The growth of GDP in all quarters of 1401 had an upward trend, such that from the first quarter to the end of the fourth quarter, the economic growth rate of the country was 1.9%, 3.9%, 4.9% and 5.3%, respectively.
IMF working on digital currency platform
AFP – The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday.
“CBDCs should not be fragmented national propositions... To have more efficient and fairer transactions we need systems that connect countries: we need interoperability,” Georgieva told a conference attended by African central banks in Rabat, Morocco.
Britain launches preferential trade scheme
CNBC – Britain on Monday begun implementing a preferential trading scheme with 65 poor and developing countries to replace similar arrangements in place when the country was a member of the European Union, according to a statement.
The Developing Countries Trading Scheme (DCTS) removes or reduces tariffs and simplifies trading rules, the UK’s Department of Trade and Business said in a statement.