The story: The chairman of Iran's National Development Fund (NDF) has sparked controversy after saying that frequent withdrawals have diminished accessible fund assets. In response, a former top government official has insisted that withdrawals were always sanctioned by Iran’s supreme leader.
Allocated a sizeable portion of Iran’s oil revenues, the NDF has long been used as a piggy bank by successive governments to address financial problems rather than investment.
The coverage: Mehdi Ghazanfari, the chairman of the NDF, suggested on May 11 that only 10B USD of the fund’s assets are available due to frequent withdrawals over the years.
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