Islamic Republic of Iran : Recent Economic Developments

Author/Editor:

International Monetary Fund

Publication Date:

April 15, 1998

Electronic Access:

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Summary:

This paper reviews economic developments in the Islamic Republic of Iran during 1990–96. Iran experienced heightened macroeconomic instability in the first quarter of 1995/96. Among the contributing factors, the announcement by the United States of intensification and extension of sanctions had a pronounced negative impact on expectations. This triggered a run on the foreign exchange market and buying in the goods market. The free market exchange rate shot to Rls 6,200 per US$1 and consumer prices rose by 14 percent during April–May, which raised the 12-month consumer price inflation to 59 percent in May.

Series:

Country Report No. 98/27

Subject:

English

Publication Date:

April 15, 1998

ISBN/ISSN:

9781451818901/1934-7685

Stock No:

1IRNEA0011998

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

114

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