Hours before Iran's new president Hassan Rohani will take office, the Iranian economy seems to be on the brink of collapse, the Washington Post reported.
According to the paper, growing international sanctions in wake of the Islamic Republic's reluctance to reach a deal regarding its nuclear program are cutting deep into the country's main financial lifeline – oil exports – causing inflation and numerous other issues for Rohani to deal with.
According to the paper, some US officials and analysts claim the country's tidal wave of economic woes – which include an annual 45% inflation rate – will make Rohani's life all that more difficult, but could also put pressure on Iran to reach a deal with the international community in a bid to relieve the crushing sanctions already enacted against the country.
To make matters worse, banking sanctions block the government from tapping into the country's reserves, being kept abroad.
"Iran is in serious trouble," said Mark Dubowitz, director of the Foundation for Defense of Democracies, a Washington-based think tank that co-sponsored the recent study.