TEHRAN – Iranian Finance and Economic Affairs Minister Ehsan Khandouzi has said the country’s frozen foreign currency assets in South Korea and some other countries will be released within the next few weeks, Tasnim News Agency reported.

“With the incessant efforts of the Ministry of Foreign Affairs and the Central Bank of Iran (CBI), good progress and achievements have been made in this area, the results of which will be witnessed in coming weeks,” Khandouzi told reporters on Tuesday in response to a question on the release of Iran’s frozen assets in South Korea and other countries.

Turning to the rising inflation rate in the country, Khandouzi noted that effective steps have been taken in order to reduce the growing inflation rate.

The economy minister pointed to some comments raised on the loan Iran has requested from the International Monetary Fund (IMF) and said that the loan would not create any commitment for the country but it means an increase in the country's capital at the IMF.

An independent technical team is incessantly working on receiving the loan from the international monetary body, Khandouzi concluded.

Earlier this month, ISNA News Agency reported that $24 billion of Iran's frozen assets will be released in Iraq and South Korea in the near future.

Last week, Head of the Iran-Iraq Joint Chamber of Commerce Yahya Al-e-Es’haq said that $2.7 billion of Iran's frozen assets were released in Iraq.

Following the visit of the Sultan of Oman to Iran and the visit of the U.S. president's aide to Oman, it was decided to release the frozen assets in the form of an understanding.

Moreover, following the recent meeting between CBI Governor Mohammadreza Farzin and the head of the International Monetary Fund Kristalina Georgieva in Washington, it was decided that Iran will be able to access more than $6.7 billion of its special drawing rights.

EF/MA