evidence: Iran had an estimated $110 billion in foreign reserves in 2011[128] and balances its external payments by pricing oil at approximately $75 per barrel.[129] As of 2013, only $30 to $50 billion of those reserves are accessible because of current sanctions.[130] Iranian media has questioned the reason behind Iran's government non-repatriation of its foreign reserves before the imposition of the latest round of sanctions and its failure to convert into gold. As a consequence, the Iranian rial lost more than 40% of its value between December 2011 and April 2012.[127] Iran's external and fiscal accounts reflect falling oil prices in FY 2012, but remain in surplus. The current account was expected to reach a surplus of 2.1% of GDP in FY 2012, and the net fiscal balance (after payments to Iran's National Development Fund) will register a surplus of 0.3% of GDP.[68] In 2013 the external debts stood at $7.2 billion down from $17.3 billion in 2012.[131] Overall fiscal deficit is expected to deteriorate to 2.7% of GDP in FY 2016 from 1.7% in 2015.[132] [...] - ^ a b "Iran Foreign reserves". IMF. January 2000. Retrieved May 20, 2020. [...] - ^ Minister: Iran Facing No Problem in Currency Reserves, Revenues Archived April 19, 2012, at the Wayback Machine. Fars News Agency, April 18, 2012. Retrieved May 2, 2012.