VOL. XXXV

NO. 46

17-AUGUST-1992

Financial and Banking News

Regional Banking

Iran Is Clearing L/C Arrears; Figures Show Dramatic Increase in Short TermDebt

Iran has begun clearing the arrears on its letters of credit (LCs) whichstarted building up at the end of June. Bankers say that the payments positionstarted easing in mid-July, after Bank Markazi, the Iranian Central Bank,released funds into the commercial banking system. Some estimates put thetotal disbursed by the Central Bank at $400mn....