Islamic Republic of Iran : 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Islamic Republic of Iran

The Islamic Republic of Iran's 2008 Article IV Consultation underlies that the economy is showing signs of overheating owing to high oil prices and a significant policy stimulus. IMF policy advice has focused on measures to reduce inflation and structural reforms aimed at stimulating growth and employment creation. Consistent with IMF recommendations, in 2007/08, the authorities reduced the non-oil fiscal deficit, contained energy subsidies, improved revenue administration, and intensified their efforts to bring banking supervision closer to international standards.