Iran's external debt decreases by $7 billion
Azerbaijan, Baku, Jun.29/ Trend R.Zamanov
Iran's external debt has decreased by $7 billion in the past few days to $35 billion. The previous figure was $42 billion, the head of Iran's Central Bank said on Saturday.
The Central Bank of Iran has managed to predict the sharp rise in the price of gold and bought hundreds of tons of gold at the price of $654 per ounce. Considering the current price of $1,200 per ounce, Iran has enjoyed near 100-per cent profit, the IRNA News Agency quoted Mahmoud Bahmani as saying.
Changing the forex basket trading strategy has also helped Iran to increase it forex fund, Bahmadni explained.
External debt (or foreign debt) is a part of the country's total debt that is owed to creditors outside the country. Among the debtors may be the government, corporations and 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.