David Lipton, first deputy managing director of the International Monetary Fund (IMF), has called for a plan of action aimed at reforming Iran's economy, Trend reports.
"I suggest that while Iran will gain from pursuing integration with the global economy, your ultimate success depends on what you do at home: strengthening macroeconomic policies in the short run and forging ahead now with deep structural reforms for the long run. It is time for a plan of action on the economy," Lipton told a conference on economy in Tehran, IMF website published the text of his speech.
"Iran has already taken important measures to secure macroeconomic stability, including an important decline in the rate of inflation. That was done despite an episode of increased costs of trade and financial transactions, and limited access to foreign exchange assets that caused inflation to jump and the rial to depreciate significantly," he said.
That achievement will serve Iran well as its implementation the Joint Comprehensive Plan of Action continues, Lipton added. Speaking about the global economy Lipton said the outlook has weakened a bit over the past half year. "Our most recent forecast has global growth remaining largely unchanged this year at a subdued 3.2 percent rate, with only a slight increase to 3.5 percent in 2017," he said.
