VOL. XLIII

No. 28

10-July-2000

IRAN

Iran Improves Its Financial Position

In the year 2000 Iran became a net creditor (i.e. its foreign assets exceeded external debt), according to the latest Executive Memo of the US-based Petroleum Finance Company (PFC), issued on 14 June. In so doing, the country sharply reduced the volatility of its balance of payments and became less vulnerable to a fall in oil prices. This improving macro-situation, predicts PFC, will lead to more confidence in implementing...