We Will Buy Your Planes, but We Won’t Enjoy It
Made in America. Morteza Nikoubazl//Reuters
Category: Iran
You Can Win an Election, and Still Lose
Iranian President Hassan Rouhani and his policies are set to get a boost this week after voters elected a parliament that favors reform. While Rouhani’s reformists didn’t win a majority of seats, it appears likely that the “moderate” independents also elected will side with his faction, giving the reformists an effective majority in the parliament for the first time since 2004.
IMF Warns That Iran Cannot Rely on Oil Alone to Resuscitate Its Economy
The International Monetary Fund (IMF) warned Iran that its oil industry couldn’t remain the key pillar of its economy if it wishes to return to prosperity. It also warned the nation that it has far greater challenges ahead, despite the lifting of international financial sanctions.
First Deputy Managing Director of the IMF David Lipton said on Tuesday “I speak here today at a pivotal moment for Iran’s economy…With important sanctions lifted; your country has a new opportunity to deepen its integration into the global economy.
Iranian Nuclear Deal, Dents Courtesy of Washington
The Iran nuclear deal is effective. Yet, Iran’s efforts to attract foreign investment and accelerate growth and prosperity face new hurdles, which seem to reflect Washington’s efforts to dent the agreement.
Last January, the nuclear agreement between, Iran and the five permanent members of the UN Security Council (US, China, France, Russia, UK), plus Germany and the EU became effective. However, will this agreement allow Iran to attract substantial foreign investment and reanimate its dormant oil fields?
Despite Lifting of Sanctions, World Bank Still Reluctant to Engage with Iran
After years of sanctions, things are looking up economically for the Iranian people. However, the World Bank, an organization dedicated to eradicating poverty around the world, appears reluctant to take part in the Middle Eastern nation’s recovery, despite its weighty economic needs.
Could Iran Sue the United States for Alleged Economic Treaty Violation?
Iran officially condemned the United States’ Supreme Court’s ruling earlier this month that would allow the families of victims of terrorism sponsored by Iran to collect monetary damages from the nearly $2 billion in frozen assets located in the United States. Taking it a step further, the Islamic Republic indicated that it would sue the U.S. government in the International Court of Justice (ICJ) at The Hague.
Iranian Economy Struggles as U.S. Markets Remain Untouchable
An official from the U.S. State Department assured members of the U.S. Congress that Iran would not gain access to American markets, according to Reuters. The Iranian Sanctions Act is set to expire in the later part of 2016, but Republicans intend to renew the restrictions before they expire.
Iran has cooperated with U.S. authorities regarding its nuclear program, but officials levied new sanctions in early 2016 when Iran conducted ballistic missile tests.
Iranian Sanctions Lifted, Reform Unlikely
The world community lifted Iranian sanctions upon discovery that Iran has abided by the terms of the nuclear deal, according to Business Insider. However, President Hassan Rouhani faces a tough road ahead with regard to economic reform, due to opposition from hardliners and Ayatollah Ali Khamenei. The Iranian economy suffers from declined living standards, rampant inflation and widespread youth unemployment.
Iranians Frustrated with Government over Sluggish Economy
Iranians grow more impatient as unemployment and low-wage jobs burden the population, according to The Guardian. Despite the Iran nuclear deal, many officials believe it may not be enough to turn things around economically. In October, ministers from defense, industry and welfare sent a public letter to President Hassan Rouhani, warning him that current circumstances could lead to an economic crisis.
According to government data, 23 out of 64 million Iranians are unemployed, with seven million out of the 23 million stuck in low-wage jobs that do not yield a suitable living.
World Bank Predicts “Windfall” For Iran Once Economic Sanctions Lift
As the lifting of economic sanctions against Iran appears more and more likely, the World Bank has begun making new predictions for the embattled nation’s post-sanction economy. According to the World Bank, the relief from years of crippling sanctions could lead to an “economic windfall” for Iran.
