89069
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 ...

FAO Forecasts Iran’s Cereal Output to Rise 12% in 2018
Despite autumn dryness, crop conditions recovered in Iran and...
Iran's Summer Box-Office Revenues Exceed $5 Million
Iran’s box-office revenues exceeded 610 billion rials ($5.19...
Hot Autumn for Tehran Stocks
Tehran stocks rose solidly on Sunday, recording another all...
Iran Housing Market Bracing for Double-Dip Recession: Aug-Sep 2018 Report
New data show property deals in Iran are on a downward...
Mobile Internet Services Get Costlier in Iran
Major mobile operators MTN-Irancell and Mobile...
Iran Agrifood Exports Rise 27% to Record High of $2.6 Billion
Around 2.94 million tons of agricultural and food products...
SCI Puts Iran's YOY Inflation at 25.7%
The goods and services Consumer Price Index for the month...
Iran's Trade With Italy Tops $590m
Iran traded 389,963 tons of non-oil commodities worth $594.82...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus