Iran's economy will suffer until sanctions lifted: IMF

Iranians fill up their cars at a petrol station in the Iranian capital Tehran on October 20, 2015Iran’s economy will continue to suffer until international sanctions are lifted and the country is able to significantly lift oil exports, the International Monetary Fund said Monday. “The sharp decline in global oil prices, tight corporate and bank balance sheets, and postponed consumption and investment decisions ahead of the expected lifting of economic sanctions, have significantly slowed down economic activity since the fourth quarter of 2014/15,” the IMF said in its annual review. “Prospects for 2016/17 are brighter, owing to the prospective lifting of economic sanctions.

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