Sunday Apr 22, 201205:01 PM GMT
Iran economic reforms positive, constructive: IMF chief
Managing Director of International Monetary Fund Christine Lagarde
Sun Apr 22, 2012 4:50PM
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Managing director of International Monetary Fund (IMF) says the economic reforms carried out by the Iranian government in recent years, especially the Subsidy Reform Plan, have been positive and constructive.

In a meeting with Governor of the Central Bank of Iran Mahmoud Bahmani on the sidelines of semiannual meetings of the International Monetary Fund and the World Bank in Washington, Christine Lagarde expressed hope that Western sanctions against Iran's central bank would be lifted.

Lagarde also indicated her concern about the fluctuations in global oil prices and their impact on the world economic growth, Fars News Agency reported on Sunday.

Bahmani, for his part, pointed to the most important economic developments resulting from fluctuation in oil prices which have affected oil consumer countries.

He also discussed the implementation of the Subsidy Reforms Plan in Iran, value-added tax, structural reforms in the banking system, and the impact of oil price fluctuations on global economy with Lagarde.

Bahmani said Iran, as a founding member of both the IMF and World Bank, has had good financial and monetary relations with these international bodies and expects IMF to continue its support for all member states, especially founding members.

Bahmani also pointed to the destructive impact of Iran oil sanctions on the world economy and explained its effect on global economic growth and inflation, especially in view of the ongoing financial crisis in Europe.

Referring to financial impact of Iran oil sanctions on low-income oil consumer countries, Bahmani asked the IMF to give priority to providing such countries with necessary financial resources to counteract the impact of Iran oil sanctions on their economies.

Headquartered in Washington, the IMF is an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Finance ministers and central bank officials from member states are currently in Washington to take part in the semiannual meetings of the International Monetary Fund and the World Bank.

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