- In their meeting with the first deputy managing director of the IMF, the private sector activists demanded the creation and maintenance of a competitive environment against the government’s support, unlike what was expected. Welcoming such an attitude, David Lipton stated that among the many commerce chambers he has visited, Iran’s commerce chamber has been among the few ones who have preferred the competitive environment. Stressing on the importance of economic stability and reforms, Mr. Lipton announced that Iran is now ready to deepen its integration into the global economy; meanwhile Iran should strengthen its macroeconomic policies in the short term to be able to apply the required deeper structural reforms in the long term. Calling the decline in the inflation rate as a significant achievement for the government, he mentioned controlling the liquidity growth as well as unifying the exchange rate critical to keep curbing inflation and setting stability. Regarding the banking sector, he also added that problems, including non-performing loans and weak institutions must also be dealt with in order for banks to effectively channel credit to the private sector.