RFE: IMF Says U.S. Sanctions Have Pushed Iran's Economy Into Recession
The International Monetary Fund (IMF) estimates that Iran's economy fell into a recession this year that will get worse next year as a result of renewed U.S. sanctions on Tehran.
In its World Economic Outlook released late on October 8, the IMF said Iran's oil-driven economy is expected to shrink by 1.5 percent this year as a result of declining oil exports, with the drop in economic output accelerating to 3.6 percent in 2019.
In May, before U.S. President Donald Trump announced that he was reinstating sanctions against Tehran, the IMF had projected Iran's economy would grow by 4 percent in 2018 and 2019.
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Update #1: Trump's Sanctions Forced Iran's Economy Into Recession, IMF Report Says (Newsweek)
Update #2: IMF: Growth Prospects for Iran to Decline Over Sanctions (Financial Tribune)
WNU Editor: Iran's economy was facing problems long before President Trump was even elected as President. The nuclear did not produce the economic benefits that the Iran government was promising, and its economic and monetary policies have only exacerbated the crisis. As for U.S. sanctions .... they have not even been fully implemented yet, but it will definitely hurt the Iranian economy when fully implemented.
3 comments:
Like with Turkey, Iran had massive financial mismanagement problems that were going to cripple their economy anyway.
The sanctions were just the lance that popped the bubble.
sanctions put into place by Trump after discarding agreement with Iran...now Iran economy in trouble, for sure, but the sanctions, now often violated by US allies, did a good deal of harm...but wasn't that intended to get Iran to come to terms with a new arrangement?
Ahh, IMF wants a pity party? Lets throw China in one too, a deep one and hope for a popular uprising against the Politburo and emperor Xi.
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