VOL. XXX

NO. 13

5-JANUARY-1987

IRAN

Iran Reschedules North Korean Debt

The Iranian Majlis on 14 December approved an act rescheduling the $170mndebt owed to Iran by North Korea for oil purchases. Under the terms of the actthe Koreans will repay the debt in equal quarterly installments over a five-yearperiod from 1 January 1985, and during this period Iran will pay 30% of theprice of its purchases from Korea in cash and deduct the remaining 70% from theKorean debt.