IMF: Iranian economy weak but growing « ASHARQ AL-AWSAT

IMF: Iranian economy weak but growing « ASHARQ AL-AWSAT:



"The International Monetary Fund (IMF) published a report on Wednesday describing the Iranian economy as “weak” but said it was growing, at a time when signs of progress towards an agreement between Iran and the US and its allies over the Islamic Republic’s controversial nuclear program have raised hopes of the eventual lifting of sanctions.



In its first review of the Iranian economy in three years, the IMF said the Iranian government needed to implement drastic reforms to stop serious economic decline caused by international sanctions and mismanagement by the previous government of President Mahmoud Ahmadinejad, who left office in 2013 after serving two full four-year terms.



Martin Cerisola, the IMF’s assistant director for the Middle East and Central Asia, was quoted in the report as saying that Iran’s problems stemmed in part from Ahmadinejad’s ambitious social programs, which were launched without the necessary funding, as well as the tightening of the international economic sanctions."



'via Blog this'