Islamic Republic of Iran: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 285

Publication date: August 2008

ISBN: 9781451819069

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Inflation , Economics- Macroeconomics , Public Finance , Taxation - General , ISCR , CR , Iran , price , Phillips curve , inflation expectation , damage cost , root mean squared error , OSF operation , stabilization objective , OSF deposit , budget classification framework , OSF financing , transition cost , border price , U , S , dollar , fuel input price , Oil prices , Energy prices , Inflation , Fuel prices , Public expenditure review , Global

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Summary

This Selected Issues Paper on Iran reviews that monetary factors are the main determinants of inflation in the country. Government spending out of oil revenues leads to large liquidity injections that the central bank accommodates owing to its efforts to prevent a significant nominal appreciation of the rial and the lack of effective sterilization instruments. The growing discontent with inflation, however, has compelled policymakers to focus on this issue, bringing it to the forefront of the policy agenda.