Apr. 29, 2019
IMF: Iran Inflation Could Reach 40 Percent as Economy Shrinks – Davide Barbuscia (Reuters)
Jihad Azour, director of the International Monetary Fund’s Middle East and Central Asia department, told Reuters, “Clearly the re-imposition of sanctions and the removal of the waivers will have additional negative impact on the Iranian economy both in terms of growth and in terms of inflation, where inflation could reach 40% or even more this year.”
Iran’s economy shrank by 3.9% last year and is expected to shrink by 6% in 2019. The Iranian rial lost more than 60% in value last year.