Subsidized Forex Policy Dysfunctional

Governor of the Central Bank of Iran says the subsidized foreign currency programs for importing essential goods has failed to achieve the desired results due mainly to the dysfunctional distribution systems.  
In an Instagram post late Friday, Abdolnaser Hemmati admitted that because of shortcomings in the forex distribution network and oversight weakness the policy has failed to curb rising prices of most essential goods in the midterm.
“Despite the initial positive effects of subsidized currency on controlling [price] shocks on the supply side, the faults with the distribution system gradually came to the fore,” he wrote.