Issuing €12.5 bln bonds and Iranian gov't debts
Iranian government considers issuing 12.5 billion euro bonds for current solar year, started on 20 March. According to Fifth National Development Plan, issuing about $30 billion bonds (A USD in Iran officially equals 12,226 rials)is scheduled. However, Ali Asghar Mir Mohammad Sadeghi, general manager for credit and investment affairs of Central Bank (CBI) said on Feb.4 that from beginning of the (solar) year, started on March 21, only $250 mln bonds have been sold, while some governmental entities, including Oil Ministry issued about $1.3 bln during mentioned time. The failure happened mostly because the interest of bonds was 17 percent, less than official inflation rate. Then CBI increased the bonds' interest to above 20 percent on Feb.4. From that time to the end of last solar year, the Oil Ministry issued $1.35 bln bonds (1.150 bln sold), Energy Ministry issued $1 bln and the Ministry of road and Urban issued about $400 mln and the bonds were sold totally. Review of the bonds so