Iran suffering ‘severe distress’ from US sanctions, says IMF | Financial Times:
The severe strain that US sanctions have placed on Iran was spelt out by the IMF this week when it forecast that the economy would contract by 9.5 per cent this year, although the government of Hassan Rouhani insists that the worst is over.
The IMF said that Iran had seen “a dramatic worsening of macroeconomic conditions” in the past two years and had experienced “severe distress”.
“This is a rare [episode of] low economic growth in Iran’s contemporary history,” said one Iranian economist. “We didn’t have this in much of the war with Iraq [in the 1980s] and before that perhaps only when Iran was occupied by the Anglo-Soviet forces in the second world war.”
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