Monday, December 15, 2008

Iran: to issue debt instruments in foreign currency

"...It would be a rare move in recent years by the world's fourth-largest crude producer to tap investors for loans in non-Iranian currencies. The Islamic Republic is under US and UN sanctions over its disputed nuclear plans...Analysts say international credit conditions may make it difficult for Iran to raise funds and that financial and other sanctions on Tehran could deter investors. Many Western banks have cut ties with the country."

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