For the first time in three years, Iran's foreign deposits with western banks appear to outstrip its debts to those institutions.
According to report released recently by the Bank of International Settlement, Iran's external position with Western banks showed a surplus of $1.2 billion at the end of the first quarter of this year.
Iran's foreign deposits rose from $8.1 billion at the end of 1999 to $9.3 billion, according to the report, quoted by the Iranian news agency IRNA. Over the same period, Iran's liabilities with Western banks dropped to $8.1 billion. The Basel-based Bank of International Settlement stated that the highest consolidated claims against Iran totaled $2.1 billion from German banks, followed by French and Belgian banks each with $1.2 billion in claims, and then $791 million from Italian banks. –(Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com )