Asked about the possible timeline for a bond issuance program by the Iranian government, Valiollah Seif also told Fars News Agency that the question is vague to a certain degree because there might come a time when Iran decides to raise money from the global markets.
"That will be when the country must issue bonds in the international markets and that is when we become certain that there is demand for our debt," he said.
Seif stressed that bonds must be issued when the country's risk rating has improved, according to Financial Tribune.
The Organization for Economic Cooperation and Development upgraded Iran's rating in the country risk classification of the Participants to the Arrangement on Officially Supported Export Credits by one point last year, bringing it down to six from the previous rating of seven, which is also the worst rating a country can have.
The risk rating of seven was allocated to Iran as a result of years of international sanctions that effectively cut any supply of foreign assets.
Iran's risk rating, at its best years ago, was four and according to Seif, "it is our expectation to return to four because the rates with which we can absorb and raise assets will be better, which would subsequently direct more resources toward us".
Seif reiterated that the ratio of non-performing loans to total loans has dropped to 10% from the previous 14.7% while the overall bad debt volume has reached one quadrillion rials ($26.6 billion).