Reducing foreign debt indicates a decrease in investment in the country, not economic growth.

Dr. Reza Qorashi, a university professor and economist, said in an exclusive interview with Voice of America: "Reducing foreign debt does not indicate that countries are becoming richer or repaying loans, but rather that foreigners are refraining from investing in that country."

Stating that the United States, Britain, Germany, and Japan have the largest foreign debts, he added: "These debts indicate the interest of foreign companies in investing in these countries, not borrowing money from foreigners."

The Leader of the Islamic Republic said in a speech a few days ago: "The country's foreign debts have almost reached zero, which indicates Iran's economic progress."

Ayatollah Ali Khamenei made these remarks while the Central Bank of Iran had announced last winter that the amount of foreign debt was more than eight billion and four hundred million dollars, a figure that, according to Dr. Qorashi, is the result of the fruitless investments of large Western companies after the signing of the JCPOA agreement.

Source: Voice of America