Iran’s external debt increased slightly to $9.14 billion by the end of the previous fiscal year on March 20, the Central Bank of Iran reported.
The country’s foreign debt is 1.2% or $111 million higher compared with the figures reported for fiscal 2019-20.
Medium and long-term debt stood at $7.17 billion, accounting for more than 78% of the total. Short-term debt was $1.96 billion on March 2021, rising from $1.53 billion the corresponding month a year before.
Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt.
Increase in external debt could be partly explained by Tehran’s efforts to raise funds for fighting the Covid-19 pandemic in the first months of the plague.
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