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Iran’s economic crisis deepens as Rouhani prepares to take office

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Ebrahim Noroozi
The Washington Post
August 3, 2013

Iran’s economy is showing signs of foundering just as the country prepares to inaugurate its first new president in eight years, with Western sanctions cutting ever deeper into the Islamic republic’s financial lifelines and increasing pressure for a nuclear deal with the West.

A welter of new data shows accelerated financial hemorrhaging across multiple sectors, from plummeting hard-currency reserves to steadily falling oil exports, Iran’s main source of foreign cash. U.S. officials and analysts say the tide of bad news will complicate the task awaiting Hassan Rouhani, the incoming president, but it could also increase Iran’s willingness to accept limits that would preclude it from developing nuclear weapons.

Although many Iran experts think that the chances for a bargain remain small, recent warnings about the economy from within the regime suggest that the nation’s leaders may be looking for a way out, analysts say

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This article was posted: Saturday, August 3, 2013 at 8:29 am

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