IMF to visit Iran for full economic review first time since 2011

Photo: IMF to visit Iran for full economic review first time since 2011 / Iran

The International Monetary Fund plans to visit Tehran later this week for its first regular assessment of Iran's economy in more than two years, IMF spokesman William Murray said on Jan. 24, Reuters reported.

An IMF mission, which is scheduled to arrive in Tehran on January 25, would allow the Fund to take a closer look at the impact of Western sanctions and provide a sorely needed outside analysis of the economy and growth prospects. The IMF last visited Iran for a full economic review in July 2011.

"The overall focus of this Article 4 consultation will be on how to restore macroeconomic stability and begin addressing long-standing weaknesses in Iran's policy framework and economic structure," Murray told reporters, referring to the IMF's annual economic assessment of each of its 188 member countries.

In Nov. 2013 IMF has predicted that Iran's real GDP growth rate will shrink by 1.5 percent in the current fiscal year (started on March 21), but it will rise to 1.3 percent in next fiscal year.

According to the IMF`s last Regional Economic Outlook covering Middle East and Central Asia which was released on November 12 , 2013, the country's real GDP growth decreased by 1.9 percent in the last fiscal year (ended on March 21).

The IMF report also said that Iran's consumer price inflation will be 29 percent in the next fiscal year.

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