WB: Iran's Foreign Debt Drops by 64 Percent in 2015

WB: Iran's Foreign Debt Drops by 64 Percent in 2015

"Iran's foreign debt was $17.344 billion in 2011, including $4.814 billion long-term and $10.320 billion short-term as well as $2.209 billion debt to such international financial organizations as the WB and the International Monetary Fund (IMF)," the World Bank report titled "World Statistics on 2017 Debt" said.

The report said in 2015, Iran's long-term foreign debt was $2.326 billion, its foreign short-term debt $2.019 billion and to international financial organizations $1.976 billion.

The report does not cite the ratio of foreign debt to Gross National Income in 2015, but put it at 2.9 percent for 2011.

In mid-October, Iranian Economy Minister Ali Tayyebnia underlined that his country is resolved to broaden bilateral ties with the World Bank and the International Monetary Fund.

"Tehran expects further relations with the World Bank and International Monetary Fund," Tayyebnia told reporters.

The Iranian economy minister, meantime, said that he has had several constructive meetings with senior officials from the World Bank and the IMF.

Tayyebnia also said that in his meetings with World Bank officials he had called for promotion of cooperation and providing Iran with the required finance for its developmental projects.

Source:Fars