Iran has 3rd largest GOR among region’s oil exporters: IMF

May 4, 2019

TEHRAN - The International Monetary Fund (IMF) in its latest Regional Economic Outlook titled “Regional Economic Outlook: Middle East, North Africa and Central Asia” puts Iran’s Gross Official Reserves (GOR) at $108.3 billion for 2018, marking it the third biggest oil exporting country in terms of GOR.

According to the international body, despite the U.S. efforts to pressure Iran's economy, the country's foreign exchange reserves in 2019 will remain above $100 billion, and Iran will keep its position in the region. 

The IMF sees Iran’s gross official reserves at $103.2 billion in 2019, falling $5.1 billion compared to 2018.

The data presented puts the total foreign exchange reserves of the region at $1148.6 billion, nine percent of which is Iran's share.

The foreign reserves of some other countries in the region include Algeria $55.6 billion, Bahrain $2 billion, Iraq $53.2 billion, Kuwait $37.2 billion, Libya $77.7 billion, Oman $16.1 billion, Afghanistan $8.4 billion and Pakistan $10 billion.

In its previous Regional Economic Outlook titled “Regional Economic Outlook Update: Middle East, North Africa, Afghanistan, and Pakistan” IMF predicted that Iran’s gross official reserves would reach $108.4 billion in 2018.

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