The implementation of the nuclear agreement between Iran and the P5+1 group of countries will deliver significant economic benefits for Iran’s trading partners within the Middle East and across the world, IMF Director of Middle East and Central Asia Masood Ahmed stated on Friday.
While the agreement will benefit Iran’s economy, internal policies Tehran has implemented on its own will also play a key role.
“If you look at what’s been happening in Iran over the last couple years, you see a combination of prudent macroeconomic policies and easing from the interim agreement which have led to stabilization,” Ahmed explained.
As a result of the policies, Ahmed argued, inflation in Iran is down from 40 percent to 16 percent while the country’s economy is expected to grow by 3 percent.
Ahmed warned, however, that there was still a lot of work left to be done to reform Iran’s industrial policies and infrastructure.
On April 17-19, 2015, the IMF and World Bank are holding their annual Spring Meetings in Washington, DC to discuss issues like global poverty alleviation, development projects, economic growth and financial reforms.
By Sputnik News