Iran unveils its foreign debts

By  Trend

Iran’s foreign debts reached ?$9.122? billion by July 21, 2017, the country's Central Bank (CBI) said in its latest monthly report on September 14.

The figure doesn’t include the deferred debts, which were over $2.38 billion by the end of the last Iranian fiscal year (March 20, 2017).

Short-term foreign debts amounted to $3.302 billion, while long-term debts stood at $5.819 billion.

According to the CBI, $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 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.