Iran has not faced such severe economic pressure since the Mongol invasion in the 13th century. At least that’s the view of Saeed Laylaz, a prominent Iranian economist, whose quip was evidently an attempt to shock the Iranian policy elite into action over the country’s teetering economy.
Whether or not the Islamic Republic is under as much duress as its medieval predecessor, there is little doubt that the country does face a dire economic situation. The economy will likely shrink by 6 percent this year, according to the International Monetary Fund (IMF). Inflation is officially 26 percent and rising, and the rial has reached a historic low against the dollar. Meanwhile, the government has been unwilling and unable to take more decisive steps to stem the coronavirus pandemic, which has officially claimed more than 19,000 lives, although the actual death toll is likely much higher.
