IMF: Iran Inflation Could Reach 40 Percent Amid Sanctions


(Worthy News) – Iran’s economy is expected to shrink by six percent this year and inflation could reach 40 percent, the International Monetary Fund (IMF) forecasts, as the country copes with the impact of tighter U.S. sanctions.

Washington reimposed sanctions on Iran’s oil exports in November following the U.S. withdrawal from a 2015 nuclear accord.

On April 21, the White House said it had decided not to renew exemptions from U.S. sanctions to buyers of Iranian oil in an effort to cut Iran’s vital oil exports to zero. [ Source: Radio Free Europe (Read More…) ]

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