Virus-hit Iran Urges IMF To Approve $5bn Loan
Mohammad Ali (@ChaudhryMAli88) Published April 08, 2020 | 11:30 PM
Tehran, April 8 (AFP/APP:Iranian President Hassan Rouhani urged the International Monetary Fund on Wednesday to give the sanctions-hit country a $5 billion emergency loan to combat its novel coronavirus outbreak.
The Islamic republic is battling one of the world's deadliest coronavirus outbreaks which it says has killed close to 4,000 people and infected more than 64,500.
Iran has said it needed what would be its first IMF loan in over half a century to continue fighting the virus.
But its arch enemy the United States, which effectively holds a veto at the IMF, is reportedly set to block the loan, arguing Iran will use the funds for military purposes.
"I urge all international organisations to fulfil their duties," Rouhani said during a cabinet meeting.
"We are a member of the IMF... if there's going to be any discrimination between Iran and others in giving loans, neither we nor world opinion will tolerate it." Iran announced on March 12 that it had requested the loan.
The country has not received assistance from the IMF since a "standby credit" issued between 1960 and 1962, according to IMF figures.
According to the IMF's website, a Rapid Financial Instrument "is available to all member countries facing an urgent balance of payments need".
"If they do not act on their duties in this difficult situation, the world will judge them in a different way," Rouhani said.
Related Topics
Recent Stories
PITB HR Wing organizes Eid Milan celebration for children at PITB Day Care Cente ..
SONY x TECNO - is this for real?
PTI to stage nationwide protests against alleged electoral frauds
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
More Stories From Pakistan
-
SCCI for simplifying procedure to enhance arms, ammunition export
1 second ago -
Federal Ombudsman KP Office decides to extend awareness campaign to educational institutions
5 seconds ago -
Setting up modern GTS need of the hour: MD SSWMB
10 minutes ago -
Keamari police bust major gutka smuggling attempt
20 minutes ago -
Minister proposes plan to remove congestion on busy roads in big cities
20 minutes ago -
Passco continue operations to procure 75000 ton wheat in Burewala zone, says zonal head
30 minutes ago
-
Pak Chef attracts tourists through traditional cuisines at cooking competition
30 minutes ago -
World Earth Day observed in Sukkur
30 minutes ago -
JICA delegation visits Education Secretariat South Punjab
30 minutes ago -
NH&MP conducts road safety awareness seminar for students
30 minutes ago -
Lahore-Paris rally to highlight the positive image of Pakistan; Rana Mashhood
30 minutes ago -
UK higher Education leaders visit CUI
30 minutes ago