$1.3b of Securities Issued in 10 Months

Over 50 trillion rials (about $1.3 billion) worth of different types of securities were issued in the 10 months to January 20, according to Mehdi Banani, the head of Debt Management Department at the Ministry of Economic Affairs and Finance. The official also said 40 trillion rials ($1.05 billion) worth of securities issued during the last fiscal year (ended March 19, 2016) have been redeemed, IRNA reported. The government, municipalities and state companies are the largest issuers of debt in Iran. Currently, 88% of the 540 trillion rials ($11.25 billion) worth of debt in Iran’s securities markets belong to state entities.