News ID: 171367
Published: 0704 GMT November 01, 2016

Foreign states repay $13b of debt to Iran

Foreign states repay $13b of debt to Iran

The UAE, Britain's Shell and India have respectively paid off $5 billion, $2 billion and $6 billion of their debts to Iran, said an official.

Managing Director of Kish Free Zone Organization Ali Asghar Mounesan further noted that a total of 4,000 letters of credit (L/Cs) have been opened for Iran since the Joint Comprehensive Plan of Action (JCPOA) was implemented in January, Mehr News Agency reported.

"A total of three billion dollars in foreign investment has also been attracted to the country," said the official

Stressing that Iran's economy is now on the road to growth and development, Mounesan added, "In a year when the global economic growth suffered a decline due to certain political tensions, Iran is experiencing a growth of almost five percent though the figure is expected to hit eight percent."

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