In meeting with stockholders who lost savings, Raeisi stresses economic stability
Iranian presidential candidate Ebrahim Raeisi has met with shareholders in Iran’s stock exchange market who lost savings in a market tumble last year, promising to follow up on their demand for the return of their lost investment in equities.
In an unannounced visit to the Tehran Stock Exchange (TSE) on Tuesday (June 15), Raeisi also promised to follow up on a government pledge to inject 200 million dollars into the equity market, which crashed when sudden and large investment led to the bursting of a bubble in summer 2020.
The administration of President Hassan Rouhani has been massively criticized — including by ordinary Iranians who lost their savings after they were encouraged to invest in a then-thriving equity market — for failing to inform people about potential risks and later mishandling the crisis.
Raeisi said the handling of the matter had been flawed. “The bourse… cannot be managed by decree; rather, mechanisms should be put in place,” he said.
“Currently in our country, the situation of the market, production, and trade is not predictable; people say ‘Let’s wait and see what happens next week’ when they want to sell even some minor product,” the Iranian presidential candidate said, stressing stability in the market.
He also acknowledged that the market crash had dented popular trust. “If that trust is not retrieved, things will get tough.”
Iran is holding its 13 presidential election on Friday, June 18. Raeisi is running against six other candidates, one of them being a recent governor of the Central Bank of Iran (CBI), Nasser Hemmati, who has been the target of much criticism by the other candidates, including over the stock market crash.
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