Iran’s foreign debts surpass $8B

Business Materials 12 December 2016 18:40 (UTC +04:00)

Baku, Azerbaijan, Dec. 12

By Fatih Karimov – Trend:

Iran’s foreign debts reached $8.1 billion by Oct. 21, indicating a rise by $190 million compared to the end of previous month (Sept. 21), the country's Central Bank said Dec. 12.

The short-term foreign debts were counted at $2.751 billion, meanwhile the long-term debts stood at $5.343 billion.

Iran's foreign debt has been on the decline since 2007 to 2015. From that year to March 2015, the country’s foreign debt lowered from $28.647 billion to $5.108 billion.

The country’s foreign debts stood at $19.185 billion in 2012, $7.682 billion in 2013 and $6.655 in 2014, according to the Central Bank of Iran.

The foreign debt is a 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 sector. The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the International Monetary Fund (IMF) and the World Bank.

The Central Bank of Iran also put the worth of foreign assets in Iranian banks and credit institutions (excluding the CBI) at 2,357.9 trillion rials (each 32,229 rials making one USD) by Oct. 21, 5.6 percent more compared to Oct. 21, 2015.

The figure indicates a rise by 2.3 percent compared to the end of last fiscal year (March 20, 2016).

The total worth of foreign assets in Iranian banks and credit institutions (including the CBI) stood at 5,761.6 trillion rials by Oct. 21, 0.1 percent more year-on-year.