Central Bank of Iran Governor Mohammad Bahmani
Addressing a meeting of the International Monetary Fund and World Bank in Algiers, Mohammad Bahmani accused the IMF and World Bank of allowing the US and European countries to inject fiat currencies into their economies.
The US credit crunch has exacerbated the global recession, prompting governments to push through massive economic stimulus packages and overshadowing efforts to reform the global financial system.
Bahmani also called on the IMF and World Bank to increase their support for poor and developing countries, which are experiencing many problems due to the global economic meltdown.
In a meeting on Sunday in Berlin, the heads of Europe's largest economies agreed on the need for greater regulation of financial markets.