Iran requests multibillion IMF loan as coronavirus cases reach 10,000
Iran has officially registered 10,000 cases of coronavirus, with the government requesting a multibillion-dollar emergency loan from the International Monetary Fund.
As cases of coronavirus surge in Iran, the government is now seeking a multibillion-dollar loan from the International Monetary Fund (IMF).
Iran’s Central Bank chief Abdolnaser Hemmati wrote to the IMF requesting $5 billion in emergency funding from its Rapid Financing Instrument, he said on Instagram March 12. Iranian Foreign Minister Mohammad Javad Zarif said in a tweet that Iran requested the money “immediately” and called on the IMF to “stand on [the] right side of history and act responsibly.”
The IMF previously said it was available to help member states “guarantee that people are not going to die because of a lack of money.” Last week, the Washington-based body’s managing director, Kristalina Georgieva, announced a $50 billion aid package for low-income countries.
Iran’s neighbors are increasingly shutting their land and sea borders, further isolating the Islamic Republic, which had already been grappling with economic sanctions on oil and gas exports imposed by the United States. Tehran has blamed Washington’s “maximum pressure” campaign for limiting Iran’s ability to contain the disease.
