SSO to Buy Gov’t Shares in Lieu of $3 Billion Debt

The government plans to swap 890 trillion rials ($3.1 billion) of its unpaid debt to the Social Security Organization with shares, the SSO caretaker said.
In a talk with Fars News Agency, Mirhashem Mousavi estimated government debt to the SSO in the range of 3,000 trillion rials ($10.7b).
The SSO is the biggest insurance company in Iran that offers insurance to private sector workers as well as voluntary coverage to the self-employed and more importantly pays billions in pension every month.
“We will acquire government shares in several companies for the 890-trillion-rial unpaid debt,” he was quoted saying.