Islamic Republic of Iran: Recent Economic Developments

April 15, 1998

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Islamic Republic of Iran: Recent Economic Developments, (USA: International Monetary Fund, 1998) accessed November 22, 2024

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.

Subject: Exchange rates, Exports, Foreign exchange, Imports, International trade, Oil exports

Keywords: Balance of payments, Baltics, Banking system, Broad money, Central bank, CR, Current account, Debt service, Europe, Exchange rates, Exports, Foreign exchange, Free market, Gas export receipt, Imports, ISCR, Oil export, Oil exports

Publication Details

Pages:

114
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1998/027
Stock No:

1IRNEA0011998
ISBN:

9781451818901
ISSN:

1934-7685

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