News / Economy

IMF hails Iran’s economic performance

Monday, 16 May 2016 3:11 PM [ Last Update: Monday, 16 May 2016 6:13 PM ]

IMF First Deputy Managing Director David Lipton met Valiollah Seif, the governor of the Central Bank of Iran (CBI) on Monday.

The International Monetary Fund (IMF) on Monday hailed Iran’s ability to push forward its economy even before the removal of the sanctions.

IMF’s First Deputy Managing Director David Lipton said what he described as an efficient economic performance had helped Iran not only check the impacts of the sanctions but also put it on the path of progress.

Lipton made the remark in a meeting with Valiollah Seif, the governor of the Central Bank of Iran (CBI). He added that the Iranian economy is today facing numerous opportunities after the removal of the sanctions, adding that the country can now have deeper interactions with the global economy.

Lipton further emphasized that Iran needs to preserve the achievements it has made as a result of reducing inflation and also struggle to promote economic stability and control liquidity.

He elsewhere emphasized that the IMF is ready to help promote Iran’s economic capabilities, stressing that the sectors that the Fund can specifically help the Islamic Republic with are fighting money laundering and blocking channels to transfer money to terrorist groups.

Lipton arrived in Tehran on Sunday for a two-day visit. After meeting Seif, he is expected to meet Iran's Oil Minister Bijan Zangeneh, and other senior officials.

“His discussions will focus on the IMF’s continuing dialogue with Iran, and Iran’s economic developments and policy initiatives, following the recent lifting of sanctions,” said a statement released by the US-based IMF.

The IMF currently does not have an economic program underway in Iran aside from statistical and technical assistance, according to a spokesman.

“The recent lifting of economic sanctions is expected to help increase oil production and exports, and lower costs for trade and financial transactions,” the IMF wrote in a January “economic health check” of Iran, adding that its real GDP growth was projected to accelerate to 4 to 5.5 percent in 2016-17.

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