IRAN

World Bank Welcomes Iran Subsidy Cuts, Foresees Sanction Woes 

The World Bank’s MENA division has welcomed the relative success of the Iranian government’s drastic subsidies cuts to subsidies, which in 2008 were estimated to be the highest in the world amounting to 27% of Iran’s GDP. In its 1 September Iran Overview it notes that “preliminary reports suggest that the Government’s comprehensive cash transfer program...