Baku, Azerbaijan, Sept. 10
Trend:
Iran's foreign debts reached $10.668 billion by July 21 compared to $10.91 billion by the end of the last fiscal year (March 20), according to the country's Central Bank (CBI).
The data released by the CBI on Sept. 10, unveils that the country’s foreign debts has witnessed a decrease by $242 million in the first four months of the current fiscal year.
The figure was $9.122 billion by the July 21, 2017, which indicates that the Islamic Republic’s foreign debts has increased by 16.9 percent, on a yearly basis.
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 $3.946 billion, while long-term debts stood at $6.721 billion by July 21, 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.
