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(Washington Post) Joby Warrick and Jason Rezaian - A welter of new data on Iran's economy shows accelerated financial hemorrhaging across multiple sectors, from plummeting hard-currency reserves to steadily falling oil exports, Iran's main source of foreign cash, as Western sanctions cut ever deeper into the Islamic republic's financial lifelines and increase pressure for a nuclear deal. Iranian officials last month reported an inflation rate of 45% - compared with 32% earlier in the summer - while also acknowledging that the economy is set to contract for the first time in three decades.2013-08-06 00:00:00Full Article
Iran's Economic Crisis Deepens
(Washington Post) Joby Warrick and Jason Rezaian - A welter of new data on Iran's economy shows accelerated financial hemorrhaging across multiple sectors, from plummeting hard-currency reserves to steadily falling oil exports, Iran's main source of foreign cash, as Western sanctions cut ever deeper into the Islamic republic's financial lifelines and increase pressure for a nuclear deal. Iranian officials last month reported an inflation rate of 45% - compared with 32% earlier in the summer - while also acknowledging that the economy is set to contract for the first time in three decades.2013-08-06 00:00:00Full Article
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