Gov’t Will Sell $5b in Shares to Repay Debt

The Majlis has let the government settle parts of its debt to public and private entities by divesting it shares in state-owned companies. 
During a parliamentary debate on the 2022-23 budget, the parliament decided that the government should repay 1,300 trillion rials ($5 billion) by selling shares in major companies next year, IRNA reported. 
Amid strained fiscal budget revenues, swapping stocks in lieu of debt has been one of the means available to the government to reimburse the mountain of debts to state and public companies plus private sector contractors.