NO. 23


Financial and Banking News

Budgets & Revenues

Iran Reschedules German Credits

Iran has rescheduled DM4.5bn ($2.6bn) of loans owing to German companies. Therescheduling was confirmed by Mr. Mahmoud Vaezi, Iran's Deputy Foreign Ministerfor Euro- American Affairs, on his return from a visit to Germany to finalizethe deal, which is the biggest single debt rescheduling to date. Payments whichhad been due this year will now be paid in 1996-2000, Mr. Vaezi said. Germany...