29 Mar 2024
Saturday 18 April 2015 - 09:30
Story Code : 160537

Iran nuclear deal to deliver major economic benefits - IMF

The implementation of the nuclear agreement between Iran and the P5+1 group of countries will deliver significant economic benefits for Irans trading partners within the Middle East and across the world, IMF Director of Middle East and Central Asia Masood Ahmed stated on Friday.
WASHINGTON (Sputnik) The United States and the European Union agreed togradually lift all nuclear-related economic sanctions imposed againstIran if the country complies witha framework agreement that was reached onApril 2, 2015. A final agreement betweenIran and the P5+1 group ofcountries is set tobe achieved byJune 30, 2015.If the framework agreement that has been announced is indeed completed and followed through, this will have a substantial positive impact not only onthe economy ofIran, butalso onthe economies withwhich Iran trades inthe region and elsewhere, Ahmed said aid atthe IMF-World Bank Spring Meetings gathering.

While the agreement will benefit Irans economy, internal policies Tehran has implemented onits own will also play a key role.

If you look atwhats been happening inIran overthe last couple years, you see a combination ofprudent macroeconomic policies and easing fromthe interim agreement which have led tostabilization, Ahmed explained.

As a result ofthe policies, Ahmed argued, inflation inIran is downfrom 40 percent to16 percent while the countrys economy is expected togrow by3 percent.

Ahmed warned, however, that there was still a lot ofwork left tobe done toreform Irans industrial policies and infrastructure.

On April 17-19, 2015, the IMF and World Bank are holding their annual Spring Meetings inWashington, DC todiscuss issues likeglobal poverty alleviation, development projects, economic growth and financial reforms.


By Sputnik News
https://theiranproject.com/vdcbfgb8zrhb0sp.4eur.html
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