Iran asks IMF for first loan in decades to combat virus

Loans must be approved by institution's executive board where US has a veto. FMTNews US Iran

A cleric talks with a patient at a hospital in Qom, south of the capital Tehran, Iran.

“Our central bank requested access to this facility immediately,” Foreign Minister Mohammad Javad Zarif added on his Twitter account. The various loans that can be granted by the IMF must be approved by the institution’s executive board, where the United States practically has a veto on decisions. “Given the widespread prevalence of coronavirus in our country and the need to continue to take strong measures to prevent and cure , and to address its economic impact,” Iran was asking for “about US$5 billion” in assistance, Hemmati wrote on his Instagram account.

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