Iran said that it has sought financial assistance from the International Monetary Fund (IMF), which has not lent it any money since 1962, to help combat coronavirus. Iranian Foreign Minister took to Twitter to ask for financial assistance from the IMF and urged Managing Director Kristalina Georgieva to provide immediate access.
IMF's @KGeorgieva has stated that countries affected by #COVID19 will be supported via Rapid Financial Instrument. Our Central Bank requested access to this facility immediately.— Javad Zarif (@JZarif) March 12, 2020
IMF/IMF Board should adhere to Fund's mandate, stand on right side of history & act responsibly.
Georgieva had assured in a blog, on March 4, that the IMF is ready to respond to the threat of coronavirus including $50 billion of financial support. She said that the IMF has rapid-disbursing emergency financing of up to $10 billion for low-income countries that can be accessed without a full-fledged IMF program.
The 66-year-old Bulgarian economist had also said that other members can access emergency financing through the Rapid Financing Instrument. Georgieva added that she is particularly concerned about low-income and more vulnerable members which may see a rapid rise in financing needs as the economic and human cost of the virus escalates.
“Our staff are currently working on identifying vulnerable countries and estimating potential financing needs should the situation deteriorate further,” she wrote.
Iran has been facing a severe threat of the coronavirus with a steep rise in the number of confirmed cases and the death toll. Iran has reported over 10,000 confirmed cases of coronavirus with 429 deaths due to the deadly infection.