Iraq reached a settlement on payment of its arrears to Iran but the process takes about a month before trade between the two neighboring countries returns to normal, said the co-chairman of Iran-Iraq Joint Chamber of Commerce.
The spokesman for Iran’s Foreign Ministry said the country has regularly paid its UN membership contributions during past years despite unilateral sanctions imposed by the United States on Tehran, which have made financial transactions difficult for the Islamic Republic.
Germany plans to borrow almost €180 billion ($214.60 billion) next year, nearly double the amount initially foreseen, as Berlin extends aid measures to mitigate impact of the COVID-19 pandemic on Europe’s biggest economy, lawmakers told Reuters on Friday.
European Central Bank policymaker Francois Villeroy de Galhau has rejected suggestions that the institution should consider writing off the public debt it bought during the pandemic, saying to do so would backfire.
It is clear from Rishi Sunak’s recent statements that he wants to defer any talk of tax rises until at least next year. The chancellor is minded to ignore the pressure from many of his own backbenchers to deal with the government’s spending deficit while the health crisis is still in full swing.
Trapped under a mountain of crippling debt, Cambodian farmer Roeurn Reth fears she will have to sell her land to repay microfinance loans that have ballooned due to pandemic-spurred job losses in her family.
Iran’s Central Bank Governor Abdolnaser Hemmati said he is hopeful his visit to Baghdad on Monday and successful talks with Iraqi officials would enable Tehran to use more than $5 billion of its funds in the country.
Government ministers of poor and indebted nations will this week appeal to their creditors for a much more ambitious debt relief effort as they grapple with the health care and economic consequences of the coronavirus pandemic.
Finance Minister Olaf Scholz said on Monday he expected public debt to reach around 80 percent of Germany’s economic output by the end of the coronavirus crisis, the level it reached at the end of the global financial crisis.
The Iranian Defense Ministry urged the United Kingdom to take “practical and expeditious” steps to settle a staggering 40-year-plus debt to Tehran over tanks that London had been supposed to deliver to the country.