Iran's foreign debts increase to $10B
Baku, Azerbaijan, July 10
By Fatih Karimov– Trend:
Iran’s foreign debts reached $10.864 billion by March 20, 2017 (end of the last fiscal year), the country's Central Bank said July 10.
Over $2.38 billion of the aforementioned figure is deferred debts.
The short-term foreign debts were counted at $3.312 billion, meanwhile the long-term debts stood at $5.17 billion.
According to the report, $4.152 billion of the debts should be settled by March 2018, $1.024 billion by March 2019, $1.135 billion by 2020 and the remaining volume during the following years.
Iran's foreign debt has been on the decline since 2007 to 2015. From that year to March 2015, the country’s foreign debt dropped 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.