IMF Report: U.S. Sanctions Severely Impacting Iran's Economy

Reforms in the region have become more urgent to decrease dependence on oil and create jobs, the IMF says [File: Ahmed Jadallah/Reuters]

VOA: IMF: US Sanctions Cutting Iranian Growth, Boosting Inflation

The International Monetary Fund is forecasting Iran's economy to shrink by 6% this year as it faces pressure from U.S. sanctions.

In a report released Monday, the IMF said its estimates for Iran, which include the potential for inflation to top 40%, predate a U.S. decision to end waivers that have allowed some Iranian oil buyers to continue making their purchases despite new sanctions that went into effect last year.

The Trump administration is due to formally end the waivers on Thursday for some of Iran's top crude purchasers, including China, India,

Japan, Turkey and South Korea.

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WNU Editor: Iran is not the only country facing hard times .... IMF warns of slowing growth and rising unrest across the Middle East (CNBC).

More News On Today's IMF Report Stating That U.S. Sanctions Are Severely Impacting Iran's Economy

Iran inflation could reach 40 percent this year as economy shrinks further - IMF -- Reuters
IMF Sees Risk of 50% Iran Inflation on More U.S. Sanctions -- Bloomberg
Iran’s recession is driving a growth slowdown among region’s oil exporters, IMF says -- CNBC
IMF: Iran likely to be among Middle Eastern countries hardest hit by volatile politics, oil prices -- Israel Hayom/AP