Tags: ML | Iran | IMF

IMF Official: Iran Can't Count on Big Jump in Oil Revenue

Tuesday, 17 May 2016 01:54 PM EDT

TEHRAN, Iran (AP) — A senior International Monetary Fund official says Iran must deal with a shift to lower crude prices and cannot count on a big jump in oil revenue as it looks to boost production and better integrate with the global economy.

First Deputy Managing Director David Lipton made the remarks Tuesday during a visit to Iran's Central Bank.

According to a transcript of his speech, Lipton said high global oil output and weak demand limit Iran's prospects for a large increase in oil revenue. He says sustainable growth and job creation will increasingly depend on sectors other than oil in the future.

He also stressed the importance of fighting money laundering and terrorism financing in plugging Iran's banks into the global financial system, and said the IMF stands ready to help.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


MiddleEast
A senior International Monetary Fund official says Iran must deal with a shift to lower crude prices and cannot count on a big jump in oil revenue as it looks to boost production and better integrate with the global economy.First Deputy Managing Director David Lipton made...
ML,Iran,IMF
133
2016-54-17
Tuesday, 17 May 2016 01:54 PM
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