MNA – Central Bank of Iran (CBI) said that Iran’s total foreign debts decreased nine percent in the first six months of the current year (March 21 – Sept. 21), showing a significant slump as compared to the same period last year.
The volume of Iran’s foreign debt by the end of Iranian month of Shahrivar (Sept. 21) hit $10,317 million, $6,853 and $3,464 million of which is related to the mid-, long-and short-term periods, respectively.
CBI also put the total volume of Iran’s foreign debt by the end of Iranian month of Mordad (August 21) at $10,405 million, the rate of which faced a significant decline in the next month.
Statistics show that Iran’s total foreign debts by the end of the first Iranian month of Farvardin (April 21) hit $11,305 million, showing a significant decline in the first six months of the current year.
Accordingly, the proportion of Iran’s foreign debts to gross domestic product (GDP) stands at about 2.5 percent which is considered as a partial figure.
Comparing the index of ratio of Iran’s foreign debt to GDP with other countries indicates that Islamic Republic of Iran is among the countries that has the minimum foreign debt rate in the world.
Foreign debt includes debts of a country to foreign lenders which can contain the loans received from foreign private banks, other governments and international financial institutions such as World bank (WB) and International Monetary Fund (IMF).