Wednesday, January 29, 2020

Iran’s economy on the brink of abyss due to US sanctions: IMF

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

The International Monetary Fund (IMF) said that Iran’s economy was “on the verge of abyss” due to US sanctions on Tehran under President Donald Trump.

The International Monetary Fund – in a report by the network “Fox News” on Tuesday, mentioned that Iran is in a deep recession after the rate of inflation to about 40% in an unprecedented manner since 1980.

The network, on the other hand, citing British media, that the crisis has widened the gap between the allies of President Hassan Rouhani and opponents on the policy of ​​diplomatic relations with the United States.

Read also: Experts warn of the repercussions of Trump’s recent move towards Iran

Last week, Washington announced the end of exemptions granted to Turkey, Italy, Greece, China, India, Japan, South Korea and Taiwan from sanctions on those importing Iranian oil by next May.

Read also: Trump warns Iran of tampering oil supplies

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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