Page 5 - IRANRptDec20

A 5.5% drop in the TEDPIX on the Tehran Stock Exchange saw the benchmark index drop 69,000 points to 1.22mn to November 13. Considering the index for the first time ​made it past the 2mn-point threshold​ in early August, the bursting of the bubble and descent have been dizzying for investors, especially retail investors who faced with a collapsing Iranian rial (IRR) and other rotten investment prospects caused by heavy US sanctions turned to the bourse in the hope that decent returns were on offer
Iran’s economy could expand by as much as 4.4% in 2021 if US President-elect Joe Biden lifts sanctions that have contributed to a deep three-year recession, the Institute of International Finance (IIF) trade body said on November 26​, Reuters reported. The coronavirus (COVID-19) crisis could, however, limit foreign investment even if it is green-lighted by Washington, it added.
Iran’s rial currency has lost another 50% of its value against the US dollar in 2020 to date,​ reflecting economic damage from the sanctions and the coronavirus pandemic.
The IIF said that if the US lifted most of the economic sanctions on Iran by the end of 2021, the Iranian economy could expand 4.4% next year following an expected 6.1% contraction in 2020.
2.0​ ​Politics
2.1​ ​Biden reiterates policy of lifting sanctions on Iran if
Tehran goes back to strict nuclear deal compliance
US President-elect Joe Biden has reiterated that his administration will lift sanctions on Iran if Tehran returns to “strict compliance with the nuclear deal”.
In an interview with ​New York Times​ columnist Thomas Friedman published on December 2, Biden again set out the policy, adding: “In consultation with our allies and partners, we’re going to engage in negotiations and follow-on agreements to tighten and lengthen Iran’s nuclear constraints, as well as address the missile programme.”
Last month, Iranian Foreign Minister Mohammad Javad Zarif said his country would fully implement the 2015 nuclear accord if Biden lifted sanctions, adding that the removal of the sanctions could be done swiftly with “three executive orders”.
US President Donald Trump unilaterally pulled Washington out of the nuclear deal between Iran and six major powers in May 2018, arguing that it was not fit for purpose in ensuring Iran did not use its nuclear development programme to build a nuclear weapon and that tougher curbs were needed on the Iranian ballistic missile programme and Tehran’s support of militias in conflict spots across the Middle East. In an attempt at driving Iran to the negotiating table,
5​ IRAN Country Report December 2020 www.intellinews.com