Iran Recession Deepens, Reserves Fall by $40 Billion in Two Years

(Reuters) Davide Barbuscia - Iran's economy is set to fall deeper into recession this fiscal year and foreign reserves could drop to $73 billion by March, a loss of almost $40 billion in two years, the Institute of International Finance said. The IIF said that if the U.S. maintained sanctions, "official reserves would decline to about $20 billion by March 2023."