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April 25, 2018       Share:    

Source: https://www.economist.com/news/middle-east-and-africa/21740798-iran-looks-ascendant-middle-east-its-regime-messing-up-its-own

Iran Is Messing Up Its Own Economy

(Economist-UK) The Iranian rial has lost a third of its value on the black market since September. On April 9 it sank to a record low of 61,000 to the dollar. The next day the government imposed a rate of 42,000 and vowed to arrest anyone who bought or sold rials for what they are actually worth. A lack of confidence in the rial reflects a lack of confidence in the economy. From the outside Iran looks ascendant, using proxies to expand its reach across the Middle East. In Syria it is establishing a permanent military presence. At home, however, the regime looks increasingly brittle. Unmet expectations may pose a bigger threat to the regime than sanctions ever did.

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