The Daily Star (Lebanon)

IMF: IRAN SHOULD SAFEGUARD STABILITY IN FACE OF U.S. SANCTIONS

- Reuters

WASHINGTON: The Internatio­nal Monetary Fund said Thursday that Iran should implement policies to safeguard its macroecono­mic stability in the face of reimposed U.S. sanctions that will cut Iranian economic growth by reducing oil exports. IMF spokesman Gerry Rice also told a regular media briefing that the Fund was urging Iran to strengthen its anti-money laundering and anti-terrorism financing frameworks to comply with internatio­nal standards by a deadline in February 2019. “The reimpositi­on of U.S. sanctions will reduce economic growth by restrictin­g Iran’s oil exports and Iran should implement policies to safeguard macrostabi­lity,” Rice said, particular­ly “the most vulnerable groups.” He said the IMF was sending a mission to Islamabad on Nov. 7 to launch financing talks with Pakistan, which formally requested an IMF bailout program during the fund’s annual meetings in Indonesia in October. The talks are aimed at reaching a staff-level agreement, which would be submitted to the IMF’s executive board for considerat­ion, Rice said. He did not offer a timetable for reaching such a staff-level agreement with Pakistan. –

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