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Iranian administration settles $6.5 billion debt to private banks

Iran Materials 29 February 2012 17:18 (UTC +04:00)

Azerbaijan, Baku, Feb. 29/ Trend F.Milad/

The Iranian economic affairs ministry has transferred the stocks to private banks to settle about 80 trillion rials (some $6.5 billion) of its debt to the banks, the vice president for planning affairs Rahim Mombaini said.

Rahim Mombaini told Mehr news agency that according to the previous calendar year's budget act, the administration should completely settle its outstanding dues to the private banks by the end of the current year (March 19).

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