Iran shall take measures to liberalize the economy, IMF deputy head said

Almaty. May 18. Silkroadnews – Iran shall strengthen its banking sector, improve the management system and privatize the state-owned enterprises, these are the recommendations by the First Deputy Managing Director of the International Monetary Fund (IMF) David Lipton, IrTAG reports.

“Iran shall strengthen one’s banking system, if wants to attract the foreign investments. It is also necessary to improve the management and privatize the state-owned enterprises that will help to have more competitive economy,” D. Lipton said at the press conference in Tehran.

For Iran’s private sector to grow the country should remove price controls, reduce barriers to trade and create more favorable environment for investments, production and job creation, he also adds.

According to him, the banking sector “should be able to support the companies that are the most productive and profitable”.

During his visit to Tehran, the IMF deputy head met with the head of the Central Bank of Iran Valiollah Seif and Iranian Oil Minister Bijan Zanganeh.

V. Seif called on the IMF to support the return of the Islamic Republic to the international banking system operation. With this he also noted that the Iranian Central Bank keeps regular contacts with the IMF and expressed hope that “it shall bring a positive result”. In particular, he noted the cooperation between Iran and the IMF in such areas as fight against “money laundering”.