OECD Downgrades Iran Credit Rating
OECD Downgrades Iran Credit Rating

OECD Downgrades Iran Credit Rating

OECD Downgrades Iran Credit Rating

The Organization for Economic Cooperation and Development (OECD) downgraded Iran's rating in the country risk classifications of the Participants to the Arrangement on Officially Supported Export Credits (CRE) from 5 to 6, following a meeting held on June 26.

Increase in the convertibility and transfer risk as the results of the controversial decision made by the US administration on re-imposing sanctions on Iran could be the main reason behind OECD’s decision, experts familiar with the issue told the Financial Tribune.

The measure is raising concern over European Union’s ability to meet its commitments towards Iran following the US decision to unilaterally abandon the 2016 nuclear agreement.

In May, EU foreign policy chief, Federica Mogherini said  that the EU was preparing a nine-point economic plan to keep the Iran nuclear deal alive, including a plan for “the further provision of export credit and development of special purpose vehicles in financial banking, insurance and trade areas.”

Short URL : https://goo.gl/JhVo3A
  1. https://goo.gl/iDfZ53
  • https://goo.gl/fd5p5G
  • https://goo.gl/aKzT6R
  • https://goo.gl/2x3kWc
  • https://goo.gl/91z4fa

You can also read ...

Automotive Giants Hit  by Massive Data Breach
Security researcher UpGuard Cyber Risk disclosed Friday that...
Travel Currency Policy Facing Revision
Confirming rumors of an imminent change in the Central Bank of...
Mindful of the risks inherent in starting a trade war with the US, the EU will probably not be able to provide Tehran with extensive support.
If it wants to keep the nuclear deal alive, the EU will need...
Iranian Parliament Firm on Preventing FATF Blacklisting
Majlis Economic Commission, a major force in Iran's Parliament...
Secondary Forex Market Rates to Soar
The supply of currency to the Secondary Forex Market will...
Command Economy Taking Biggest Toll on Stocks
Bulls at Tehran stock market are exhausted, as bears keep...
21% Rise in Non-Oil Trade With Afghanistan
Iran traded 1.58 million tons of non-oil commodities worth $...
No Reverting to Economic Policies of 1980s
One of the wonders in this day and age, in Iran, is the...

Add new comment

Read our comment policy before posting your viewpoints