Iran external debt decreases to $8.47bn

Business Materials 25 March 2013 15:55 (UTC +04:00)

Azerbaijan, Baku, Mar.25/ Trend F.Milad‎‏

Iran's external debt decreased to 8.477 billion dollars by the end of the calendar month of Azar (December 20, 2012).

The figure stood at 16.435 billion dollars in March 2012, the Fars News Agency reported.
Iran's short term debts accounted for 1.101 billion dollars of the aforementioned amount. It is while the country's short term debts stood at 7.722 billion dollars in March 2012.

External debt (or foreign debt) is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households.
The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the International Monetary Fund (IMF) and World Bank.