Tale of Two Economies: IMF Tallies Up Sanctions Wreckage in Iran - Bloomberg:
The re-imposition of U.S. sanctions on Iran’s oil exports is undoing every assumption the International Monetary Fund had about its economy.
Instead of a growth spurt the IMF anticipated only months ago, it now projects a recession starting in 2018, a deepening fiscal shortfall and inflation more than tripling from last year, according to its regional economic outlook released on Tuesday.
“Sanctions against Iran will undercut its near-term trade and growth prospects, increasing the risk of spillovers,” the Washington-based lender said in the report.
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