Iran

October 2008 | Ratings Update

The government's decision to hold off for two months the introduction of a 3% value-added tax brought to an end a week of strikes in Tehran's main bazaar on October 13. The extent of the protests, which were replicated in Isfahan, Mashhad and Tabriz, demonstrates the general dissatisfaction with the regime's economic management. The symbolism of the strikes is noteworthy as bazaar traders had not closed down to such an extent since the 1979 Islamic revolution, when they played a significant role in overthrowing the Shah. There is a risk that frustrations over the state of the economy will increasingly

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