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IMF to assess sanctions impact on Iran economy
- Iran: Monday, January 21 - 2013 at 04:35
The International Monetary Fund has announced it plans a visit to Iran in the first half of the year to evaluate the state of its economy and the impact of Western sanctions, Reuters has reported. Last October, the IMF forecast that Iran's economy was likely to contract in 2012 and inflation would likely increase to 25%. However, those projections were made before the sharp depreciation of Iran's currency, the rial, at the end of last year, said Masood Ahmed, IMF director for the Middle East and North Africa. "We expect that when we revisit these numbers with the more recent data it will show a greater impact than what was estimated at that time," Ahmed said.
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