Foreign debt falls to $9.05b: CBI

February 14, 2020 - 14:33

TEHRAN – The latest report published by the Central Bank of Iran (CBI) puts the country’s foreign debt at $9.053 billion at the end of the ninth Iranian calendar month of Azar (December 21, 2019), down from $9.339 billion at the end of the last Iranian year.

The report although said that the foreign debt grew by $372 million from the figure for the end of the current Iranian year’s first quarter (June 21, 2019) in which the country’s external debt stood at $8.678 billion, IRNA reported. 

From the total foreign debt, $7.548 billion was mid-term and long-term debts while $1.505 billion was short-term debts, the report confirmed.

External debt is the portion of a country's debt that is borrowed from foreign lenders including commercial banks, governments or international financial institutions. These loans, including interest, must usually be paid in the currency in which the loan was made.

Foreign debt as a percentage of Gross Domestic Product (GDP) is the ratio between the debt a country owes to non-resident creditors and its nominal GDP.

Iran’s external debt has been falling in recent years following a downward trend. The country’s foreign debt had reached $9.333 billion at the end of the previous Iranian calendar year (March 19, 2019).

EF/MA
 
 

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