IMF official: Iran can't count on big jump in oil revenue
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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.
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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.