IMF predicts US sanctions on Iran may weaken global economy

The International Monetary Fund (IMF) has said that the illegal sanctions imposed by the United States on Iran would likely lead to a lower economic growth in the world next year.

According to Press TV, the IMF said on Wednesday that Iran sanctions, the China-US trade war and the uncertainty over Britain’s withdrawal from the European Union were the three main factors that had caused the Fund to revise its outlook for global economic growth.

“ ... sanctions on Iran, have led to downward revisions despite a near-term strengthening in oil prices,” said the IMF on its blog, adding that recovery in growth between 2019 and 2020 would largely depend on  improved growth outcomes in stressed economies like Iran.

The Fund cited the impacts of the illegal  US sanctions on Iran’s oil industry as a major element that could weaken the world’s economy in future.

SS