$66 billion missing from Iran’s coffers
There is more than one way to create a deficit. One way is to apply an economic stimulus to prime the economy back to life; another option is good old fashioned embezzlement. If reports emerging from Tehran are correct, the Ahmadinejad regime has managed to squirrel away around $66 billion of late. These funds are missing from state’s coffers and are not insubstantial. This amount is equal to one-tenth of Iran’s total oil revenues since the 1979 revolution. Now, in a free and open democracy such an open theft might make reelection a challenge. I doubt Obama would get away with it, but Ahmadeinejad seems unruffled by the allegations. After all, with the opacity of process in Tehran, he could well be implementing his exit strategy before we even realize he is going anywhere. $66 billion will buy a very luxurious and private retirement.
According to Farda website which is closely affiliated to Tehran’s mayor, the difference between Ahmadinejad administration’s revenues and the amount deposited with Iran’s Central Bank exceeds $66 billion. This is a large number as it is equal one-tenth of Iran’s total oil revenues since the 1979 revolution. According to statistics, the largest instances of such unprecedented violations took place in the areas of imported goods and customs. While the Central Bank has determined that nearly $220 billion worth of goods have been imported into the country in the past four years, the customs administration has claimed that only $185 billion worth of goods came in. This $35 billion difference constitutes the largest discrepancy in allegations of financial fraud involving Ahmadinejad’s Principalist administration.
The second large instance relates to the export of oil, which constitutes the Islamic Republic’s largest source of revenue. According to the Iran’s Central Bank, revenues generated by the sale of oil from 2005 to 2008 were close to $280 billion, but the Ahmadinejad administration’s oil ministry has announced the number to be $255 billion. Although the $25 billion discrepancy is not as large as the one involving those in the import of goods area, it constitutes the second largest item of financial irregularity involving the Ahmadinejad administration.
The third item of difference exposed by comparing the report generated by the Central Bank, the highest financial authority in the Islamic Republic, and the Principalist administration’s figures is a $2.6 billion difference in the amount of non-oil exports.
