In 2011, Iran launched the National Development Fund (NDF) with the lofty ambition of preserving its oil wealth for future generations, insulating the economy from oil price shocks, and funding sustainable, private-sector-led development. Fourteen years later, this vision lies in tatters. The NDF has been steadily drained, not for strategic...
In 2011, Iran launched the National Development Fund (NDF) with the lofty ambition of preserving its oil wealth for future generations, insulating the economy from oil price shocks, and funding sustainable, private-sector-led development. Fourteen years later, this vision lies in tatters. The NDF has been steadily drained, not for strategic...