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Iran's New Best Friend? The IMF

When your economy looks bad, it doesn’t mean it is bad. It just means those awful rating agencies are using the wrong metrics.  Get some better metrics and the problems will magically disappear.

That is what Iran has learned from the Europeans, who habitually blame Moody’s and its kin  for pessimistic economic predictions. In Iran’s case it was the IMF: Back in April the IMF took independent data and projected growth at a not very blistering zero percent for the Holiest Republic in the World.

The forecast didn’t sit well with the Iranians and the mullahs counseled the IMF to pray over the numbers and find something better.

Success!  Using the official government data provided by the Iranians themselves, the new assessment pegs Iran’s economic growth at a “rosy” 3.2 percent.

The lesson here? If the scales make you feel fat, just loosen your belt a few notches and  get yourself a smarter set of scales.

Problem solved.

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