Iran Central Bank Seeking to Access IMF’s Rapid Financial Instrument

Foreign ministery

Iran’s Central Bank governor says it will strive to provide the foreign currency reserves required by the country in order to supply the required medications amid the coronavirus outbreak.

In a memo on Friday, Abdolnasser Hemmati said the bank will also work towards gaining access to the Rapid Financial Instrument of the International Monetary Fund (IMF).

“From an economic perspective, people’s lives are under the pressure of unfair and all-out sanctions as well as the coronavirus outbreak, and require serious and immediate support by officials,” he said.

“Continuing to pursue its active approach and make efforts, and with the cooperation and backing of the respected foreign minister, the Central Bank will, using resources which belong to Iran, do its utmost to provide the forex resources needed by the country in order to provide medications as well as medical equipment and humanitarian aid, and will continue its efforts,” he noted.

“Seeking to gain access to the IMF’s Rapid Financial Instrument as Iran’s inalienable and legal right, and seeking to release the forex resources of the Central Bank of Iran which have been illegally frozen under the pressure of the US government, are all part of those efforts,” he added.

“In both cases, efforts have had a positive trend so far,” he said.

The official underscored that Iran’s efforts are geared to get restrictions remove in order to be able to transfer financial resources of the Central Bank of Iran to keep providing medicines and equipment to counter the coronavirus pandemic.

“Everybody knows that the sensitive current situation requires that countries face no restrictions in the global fight against this scourge in order to meet urgent and humanitarian needs,” added the memo.

He said the Central Bank of Iran will definitely try its utmost to solve people’s financial problems as it did before the coronavirus outbreak.

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