TEHRAN – The latest report published by the Central Bank of Iran (CBI) puts the country’s foreign debt at $8.744 billion at the end of the first quarter of the current Iranian calendar year (June 20), down 4.35 percent from $9.142 billion at the end of the previous year, IRIB reported.

From the total foreign debt, $6.733 billion was mid-term and long-term debts while $2.011 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.

MA/MA