Islamic Republic Of Iran Asks IMF For An Emergency $5 Billion Loan As Covid-19 Death Toll Climbs to 429 

Iran has asked for an emergency USD 5 billion loan from the International Monetary Fund to combat the Covid-19 outbreak in the country.

The Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati announced that he has made a request to IMF (International Monetary Fund) for a $5 billion loan to help his country deal with the outbreak of COVID-19. Hemmati said that IMF’s response will be a litmus test for its claims that it ius willing to provide relief aid for containing the disease.

“I have declared that, according to your (IMF’s) proclamation about supporting the Member States, including Iran, and considering the widespread outbreak of the coronavirus in our country and the necessity for vigorously continuing the measures to prevent and cure the disease and address its economic impacts, we ask for around $5 billion from rapid-disbursing emergency financing, considering the Islamic Republic of Iran’s quota in the fund,” the CBI chief said.

Last week the IMF allotted $50bn in emergency funding to poor and middle-income countries that may need assistance in responding to the coronavirus outbreak, as the lender sees global growth in 2020 falling below last year’s level.

Iran says the new coronavirus has killed 75 more people, raising the death toll to 429 amid over 10,000 cases in the Islamic Republic.

The rising casualty figures each day there suggests the fight against the new coronavirus is far from over. Outside of Iran, only Iraq, Egypt and Lebanon have recorded deaths from the virus in the Middle East.