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Senior American at IMF says Iran faces 'fundamental' economic choices

A year after the nuclear accord was reached, a top official at the International Monetary Fund said he was impressed on his first visit to Iran by the desire of senior officials there to reform the Iranian economy but that they need to do more to insure sustainable growth.
David Lipton, First Deputy Managing Director of the International Monetary Fund (IMF), speaks at a news conference in Beijing, China, June 14, 2016. REUTERS/Jason Lee - RTX2G3KI

A senior official from the International Monetary Fund (IMF) says that Iran faces a challenge similar to post-Soviet Eastern Europe in modernizing and transforming its economy to take advantage of the opportunities presented by the landmark nuclear accord.

David Lipton, first deputy managing director of the IMF, told a conference at the Carnegie Endowment in Washington June 29, “Iran faces a fundamental choice.” The Islamic Republic can stick with a largely oil-based closed economy with heavy state involvement or seek greater integration, private enterprise and foreign investment, he said.

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