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Zarif urges IMF to allow Iran access to its RFI share for battling coronavirus

Friday, March 13, 2020

Iranian FM Zarif on Thu. called on the Managing Director of the IMF Kristalina Georgieva to adhere to Fund's mandate and allow Iran access to its share of IMF's available Rapid Financing Instrument (RFI).

"IMF's Georgieva has stated that countries affected by COVID-19 will be supported via Rapid Financial Instrument," he wrote.

"Our Central Bank requested access to this facility immediately. IMF/IMF Board should adhere to Fund's mandate, stand on right side of history & act responsibly," he added.

The Governor of the Central Bank of Iran (CBI) announced on Thursday that, in a letter to International Monetary Fund (IMF), he has required permission for access to the fund's available $50-billion-emergency financing facilities, aimed at addressing COVID-19.

In his letter, Abdolnaser Hemmati underlined that no human body must be deprived of medicine or medical facilities due to the dearth of financial resources.

Iran's share in the allocated RFI stands at $5 billion.

On March 4, IMF Managing Director Kristalina Georgieva at Joint Press Conference with World Bank Group President David Malpass announced that the IMF is making available about $50 billion through its rapid-disbursing emergency financing facilities for low income and emerging market countries that could potentially seek support. Of this, $10 billion is available at zero interest for the poorest members through the Rapid Credit Facility, she informed.

 

 

Source: Mehrnews