Reuters: The International Monetary Fund said prospects for Iran's economy were good, but urged the government to act promptly to rein in inflation that is expected at about 25 percent.
WASHINGTON, July 18 (Reuters) – The International Monetary Fund said prospects for Iran's economy were good, but urged the government to act promptly to rein in inflation that is expected at about 25 percent.
The IMF said Tehran should raise interest rates and allow for more flexibility in its exchange rate to contain inflationary pressures.
"(IMF) directors encouraged the authorities to act promptly to prevent inflationary expectations from becoming entrenched, against a background of a generally favorable short-term growth outlook," the Washington-based institution said in its annual review of the Iranian economy. (Reporting by Lesley Wroughton)
