Salient to Investors:
Masood Ahmed at the IMF said Iran’s currency crisis will deepen economic contraction this year by more than the IMF had estimated, while inflation may accelerate to 25.2 percent, the highest in four years.
Theodore Karasik at the Institute for Near East and Gulf Military Analysis said Iran is not going to give in on any aspect of the sanctions regime, despite negative growth and indicators.
The Economist Intelligence Unit said Iran’s foreign reserves will drop to $70 billion in 2012 from $80 billion in 2011.
Read the full article at http://www.bloomberg.com/news/2012-11-11/iran-currency-crisis-likely-to-worsen-gdp-shrinkage-imf.html