Iran’s foreign debt drops 17% in a year: CBI

Tehran Times – Iran’s foreign debt fell to $9.339 billion at the end of the last Iranian calendar year (March 20, 2019), registering a nearly 17 percent drop compared to the figure for the preceding year, IRNA reported on Monday, citing central bank data.

The latest data published by the Central Bank of Iran (CBI) shows that of the country’s total external debt, $7.187 billion was long and medium-term debt while short-term debt accounted for $2.151 billion.

The CBI data indicates that in the Q3 of the past Iranian calendar year (September 22-December 21, 2018), Iran’s total foreign debt stood at $10.34 billion of which $3.174 was short-term debt and $6.86 billion was medium- and long-term.

The country’s external debt shrank $695 million in the Q4 compared to the Q3, the data showed.

In its previous report, CBI put the country’s foreign debt by the end of first nine months of the last fiscal year on December 21, 2018 at $10.03 billion.

The Central Bank of Iran website reported that long and medium-term debt accounted for over two-third of the foreign debt at $6.8 billion by the end of Q3. Short-term debt amounted to $3.1 billion during the period or 31 percent of the total foreign debt.

This is while the total external debt by the end of the first month of the past fiscal year (April 20, 2018) was $11.3 billion, meaning that Iran’s debt registered over 12 percent reduction compared to the end of the Q3.