(MENAFN) According to the CBI portal, Mohammad-Reza Farzin, the Governor of the Central Bank of Iran (CB), has traveled to Washington to hold meetings with officials from the International Monetary Fund (IMF). Accompanying him on this trip is Mohsen Karimi, the CBI's Deputy Governor for International Affairs. It is noteworthy that Iran currently holds a position as a board member of the IMF.
The purpose of Governor Farzin's visit is to engage in discussions and negotiations with IMF representatives. These meetings are expected to cover various economic aspects and potential avenues for cooperation between Iran and the international financial institution. The visit comes at a time when Iran is grappling with economic challenges due to the impact of sanctions imposed on the country.
In its latest regional report on the "Middle East and Central Asia," the IMF made projections regarding Iran's economy. Despite the difficult sanctions regime, the report suggests that Iran's economy could experience growth of up to two percent in 2023. The IMF anticipates that Iran will successfully address issues such as high inflation and liquidity, while also increasing its oil exports in the global market.
The report highlights several key factors contributing to this positive outlook. It suggests that Iran will witness a significant boost in its crude oil exports under the administration of President Ebrahim Raisi, with an expected twofold increase. Additionally, the IMF predicts that Iran's gross domestic product (GDP) will expand during this period, while both the inflation rate and liquidity growth will decline significantly.
Governor Farzin's visit to Washington and the discussions with IMF officials hold significant importance for Iran's economic prospects. The engagement with the IMF reflects the country's efforts to address economic challenges and explore potential avenues for growth and stability. By seeking international cooperation and guidance, Iran aims to navigate the complex economic landscape and implement measures to enhance its financial resilience and promote sustainable development.
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