Iran’s foreign debts increases by 29%
Baku, Azerbaijan, July 12
Iran’s foreign debts has increased by $2.43 billion during the last fiscal year, that ended March 20, 2018, according to the country's Central Bank (CBI).
Iran’s foreign debts reached $10.91 billion by the end of the last fiscal year, 28.6 percent more year-on-year, the CBI said in a report released July 12.
The figure was $10.758 billion by the end of 11th Iranian calendar month in the last fiscal year (Feb. 20, 2018), which indicates that the Islamic Republic’s foreign debts has increased by 1.4 percent, month-on-month.
The CBI report doesn’t include the deferred debts, which went over $2.38 billion by March 20, 2017.
Iran’s short-term foreign debts amounted to $4.197 billion, while long-term debts stood at $6.713 billion by March 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.