VOL. XLVII
No 11
15-March-2004
IRAN
BUDGETS AND REVENUES
Iranian Government Seeks To Borrow $6.5Bn From OSF
The Iranian parliament on 9 March approved a government request to withdraw $6.5bn from the Oil Stabilization Fund (OSF), the reserve facility established in 2000 to deposit any surplus oil revenue when oil prices exceed projections. The government usually draws on the OSF, which now contains some $9bn, in order to repay foreign debt, finance infrastructure projects or help in creating jobs....
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