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OECD upgrades Iran risk rating

Friday, Jan 26, 2018

The Organization for Economic Cooperation and Development (OECD) has upgraded Iran’s risk rating to 5.

(SHADA: TEHRAN) -- Since 2 years ago, the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI), in cooperation with the Ministry of Foreign Affairs and the Export Guarantee Fund, has begun a series of steps to negotiate and improve credit ratings, which, in spite of the opposition of a few member states, OECD upgraded Iran's credit rate from 7 to 6 last year.

But in 2017, OIETAI in cooperation with the Export Guarantee Fund and in particular the Ministry of Foreign Affairs (the Embassy of Iran in Austria), restarted negotiations, and finally, OECD upgraded Iran's rank to 5.

The upgrade reduces the cost of attracting foreign finance, and as a result helps the country increase its foreign exchange reserves.


 
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