November 1, 2018 / 2:46 PM / 13 days ago

IMF says Iran should safeguard stability in face of U.S. sanctions

A money changer holds Iranian rial banknotes as he waits for customers in Tehran's business district January 7, 2012. REUTERS/Raheb Homavandi

WASHINGTON (Reuters) - The International Monetary Fund said on Thursday that Iran should implement policies to safeguard its macroeconomic stability in the face of reimposed U.S. sanctions that will cut Iranian economic growth by reducing oil exports.

IMF spokesman Gerry Rice also told a regular media briefing that the Fund was urging Iran to strengthen its anti-money laundering and anti-terrorism financing frameworks to comply with international standards by a deadline in February 2019.

“The reimposition of U.S. sanctions will reduce economic growth by restricting Iran’s oil exports and Iran should implement policies to safeguard macrostability,” Rice said, particularly “the most vulnerable groups.”

Rice said the IMF was sending a mission to Islamabad on Nov. 7 to launch financing talks with Pakistan, which formally requested an IMF bailout program during the fund’s annual meetings in Indonesia in October.

The talks are aimed at reaching a staff-level agreement, which would be submitted to the IMF’s executive board for consideration, Rice said. He did not offer a timetable for reaching such a staff-level agreement with Pakistan.

Reporting by David Lawder; Editing by Bill Trott

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