NO. 28


Financial and Banking News

Budgets & Revenues

Debt Agreement Between Iran And Italy Reported

Iran and Italy have agreed an $800mn debt restructuring package, according tothe Tehran daily Ettelaat. The newspaper said that Italian financialinstitutions would give Iran an $800mn six-year loan, which would include atwo-year grace period. The new money will be used to repay existing overduecredits. Iran is in the process of restructuring all its overdue commitments...