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$172m Debt Swap Proposed in Iran's New Budget

$172m Debt Swap Proposed in Iran's New Budget  $172m Debt Swap Proposed in Iran's New Budget

The government will issue 20 trillion rials ($172.4 million) in treasury bills to settle its debt to cooperatives and private companies. According to the 2019-20 budget bill, the amount pertains only to debt that should be repaid by the end of current fiscal in March. 
Note 5 of the proposed budget stipulates that debts of the mentioned entities held by the government (that have been transferred to state companies as per the provisions of Law for Removing Obstacles to Competitive Production and Promoting the Financial System) could be swapped with government debt to the same companies through treasury bills. 

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