Iran’s foreign debts continue to rise
Baku, Azerbaijan, March 11
By Gazenfer Hamidov – Trend:
Iran’s foreign debts reached $10.346 billion by Jan. 20, according to a report released by the country's Central Bank (CBI) March 11.
The figure was $7.573 billion by the end of 10th Iranian calendar month in the last fiscal year (Jan. 20, 2017), which indicates that the Islamic Republic’s foreign debts has increased by 36.6 percent, year-on-year.
The country’s foreign debt has increased by $461 million during the one-month period from Dec. 21, 2017 to Jan. 20, compared to $139 million during the one-month period from Nov. 21 to Dec. 21, 2017.
The CBI report doesn’t include the deferred debts, which went over $2.38 billion by the end of the last Iranian fiscal year (March 20, 2017).
Iran’s short-term foreign debts amounted to $4.010 billion, while long-term debts stood at $6.336 billion by Jan. 20,according to CBI.
Iran’s foreign debt was on decline from 2007 to March 2015, dropping 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 billion 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 and the World Bank.