Weather Generators (WGs) are one of the major downscaling tools for assessing regional climate change impacts. However, some deficiencies in the performance of WGs have limited their usage. This paper presents a method for correcting the low-frequency variability (LFV) of precipitation in the Improved Weather Generator (IWG) model. The method is based on bias correction in the monthly precipitation distribution of the generated daily series. The performance of the modified model was tested directly by comparing the statistics of generated and observed weather data for 14 stations, and also indirectly by comparing the characteristics of simulated stream-flows of a basin from the simulations run based on generated and observed weather data. The results showed that the method not only corrected the LFV of precipitation but also improved the reproduction of many other statistics. The provided IWG2 model can serve as a useful tool for the downscaling of General Circulation Models (GCMs) scenarios to assess regional climate change impacts, especially hydrological effects.