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Can Iran's president turn around its economy?

Iran's economic plight — compounded by US sanctions, low oil prices and COVID-19 — depends on risky and difficult reforms for a turnaround.

While the Iranian government is busy managing the public health fallout of the coronavirus pandemic, there are increasing calls to pay attention to the needs of the country’s economy and to develop a stimulus plan.

But what can the Hassan Rouhani administration do in its current financial position? Not only does it face major financial shortcomings, it also cannot access its own hard currency reserves in international banks, nor can it hope to secure international loans or issue bonds on global capital markets. 

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