Financial and Banking News
BUDGETS AND REVENUES
Iran and Iraq Run Down Foreign Assets
Figures recently published by the Basle-based Bank for InternationalSettlements (BIS) show that during the first half of this year both Iran andIraq have run down their deposits with banks in western industrializedcountries. Their deposits in the BIS reporting area dropped by 15.6% to $4.95bnin the case of Iran and by 16.1% to $1.95bn in the case of Iraq. However bothcountries...