IMF and Iran meet to discuss measures to curb inflation
Senior officials at the IMF and Iran have met to discuss reforms needed to combat inflation and spike growth in the economy.
The domestic economy in Iran has been crippled by UN-backed sanctions. Due to its inability to earn foreign exchange, the Rial has plummeted since 2011. Day-to-day items like rice, cooking oil and chicken have become unaffordable for many Iranians. Recent figures have placed the inflation numbers as high as 39%.
According to AFP, the IMF issued a statement saying the discussions "focused on the need for Iran to tackle high inflation and restore economic growth, as well as on the need for Iran to begin addressing long-standing policy and structural challenges in the economy."
In recent days, there has been renewed optimism that Iran and the Western powers will reach a deal, which will result in an easing of sanctions.