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Warning: Creating default object from empty value in /home/gssn/public_html/ipsorg/blog/ips/wp-content/themes/platform/admin/class.options.metapanel.php on line 49 currency | IPS Writers in the Blogosphere
Sunday’s New York Times story that the US and Iran have agreed in principle to direct bilateral negotiations over Iran’s nuclear program provides opportunity for a more honest conversation on Iran than the presidential candidates have had so far. Well, at least this is my hope.
The escalating sanctions regime that has been imposed on Iran by the United States and European Union has placed all parties involved in a rather strange position. On the US side, the palpable glee over the dropping value of the Iranian currency and the success sanctions have had in causing misery [...]
Virginia Tech economist Djavad Salehi-Isfahani’s recent explanation of the rial situation in Iran generated a lot of attention, and much in the way of non-expert criticism, likely because it sways considerably from the prevailing narrative on Iran’s economy: it’s about to collapse. But Salehi-Isfahani is sticking to his guns. [...]
The US and EU are touting Iran’s currency woes as proof that sanctions are working, though it’s not clear to what end. The Wall Street Journal reports that the Western powers “are working on new coordinated measures intended to accelerate the recent plunge of Iran’s currency and drain its foreign-exchange reserves”:
What are the primary reasons that the Iranian rial has lost half of its value against the U.S. dollar in just one year? Iran’s currency was valued at about 10,000 rials to the dollar in the summer of 2011. It plummeted to more than [...]
*Dr. Amuzegar is a distinguished economist and former member of the IMF Executive Board.
During the last 12 months, and particularly since January 2012, the erratic and unhinged behavior of the Iranian currency, the rial, has been added to the Islamic Republic’s other thorny and protracted [...]
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