Middle East Economic Survey


No 32



Ailing Car Maker Iran Khodro To Get $1bn Rescue Loan

The Money and Credit Council at the Central Bank of Iran (CBI) on 29 July decided to extend an IR10 trillion ($1bn) loan to Iran Khodro Company, the countrys largest auto maker, which has been suffering from a severe liquidity crisis. Iran Khodros deputy managing director Jamshid Imami disclosed that the companys debts stood at more $9bn and its assets at $10bn. Mr Imami said that half...