All tagged recession

IMF Sees Deeper Iran Recession Hitting Regional Growth

◢ The International Monetary Fund on Tuesday worsened its forecast for Iran's recession as US sanctions bite, with Tehran's slump denting overall growth in the Middle East and North Africa. The global lender's World Economic Outlook projected Iran's economy will shrink by a massive 6.0 percent this year, its worst performance since it contracted by 7.7 percent in 2012.

Europe Support Against US 'Rare Victory' for Iran: Rouhani

◢ President Hassan Rouhani said Saturday that the divisions between the US and Europe over renewed sanctions on Iran were a "rare historical victory" for the Islamic republic. EU countries have fiercely opposed the decision by US President Donald Trump to abandon their landmark 2015 nuclear deal with Iran and reimpose sanctions—the last of which will return on November 5.