Iran economy's recovery strengthening but bank reform is urgent, IMF says
Iran’s economy is starting to recover more rapidly from years of international sanctions but the country urgently needs to shore up its banks, a senior International Monetary Fund official said on Monday. Gross domestic product growth soared to 12.5 percent in the year through last March 20, but that was almost entirely due to a leap in oil exports, after most sanctions were removed under a deal with world powers on Tehran’s nuclear program. Oil exports are no longer growing nearly as fast. But the economic recovery is now beginning to ...
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