(Persia Digest) – The first installment of Iraq’s debt to Iran was credited to the Central Bank of Iran (CBI).

At meetings held between the Iranian President and his accompanying delegation with the Iraqi President and Prime Minister, CBI Governor Abdolnaser Hemmati conducted extensive talks with his Iraqi counterpart to implement the agreements made between the two countries central banks last month.

Read more:

Iran and Iraq to facilitate border crossings

Iran and Iraq sign 22 trade deals

Iran and Iraq sign five MoUs

Iran wants to expand ties with Iraq to blunt US sanctions

Consequently, the first part of Iraq’s debt to Iran was credit to CBI’s account in Iran. Of Iran’s USD 12BN worth of exports to Iraq, USD 4BN are for gas and electricity.

Extensive discussions were also conducted on banking facilities for Iranian exporters of goods and services between the banks of the two countries and the necessity to accept L/Cs in dinars instead of dollars by Iranian contractors.

Click here for more economic news.

Follow us on Twitter

* captcha:
* Comment:
Latest news