VOL. XXXIII

NO. 2

16-OCTOBER-1989

Financial and Banking News

Budgets and Revenues

Iranian Devaluation, Liberalization Mooted

In what may be a prelude to a rationalization and devaluation of theIranian Riyal's exchange rate, a new officially-supported rate was announcedlast week amid indications that economic liberalization, including someprivatization, is being considered by President Rafsanjani's technocraticgovernment.

The immediate impact of the new exchange rate however, was to furthercomplicate...