Iranian lawmakers say US can't veto $5 billion IMF loan request amid COVID-19 crisis

Iran’s vice president for Economic Affairs Mohammad Nahavandian on Wednesday, April 8 reportedly said that the United States cannot block the Islamic Republic's request for $5 billion in emergency loans from IMF. This comes after Iranian President Hassan Rouhani asserted that the world was not going to tolerate any kind of discrimination by the IMF. Iran has till now reported 64,586 positive cases of novel coronavirus COVID-19 infection and 3,993 deaths since the pandemic hit the Middle Eastern nation.

As per reports, Nahavandian asserted that no country in the IMF had the right to veto emergency loan requests, adding that the IMF should be “fair” in assessing and approving loan requests of member countries.

The Iranian leader further elaborated that there were many other nations which were supporting Iran’s request as he mentioned that it was ‘important to understand each other’ amid the COVID-19 outbreak.

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“Crime against humanity”

On April 5, Secretary of Iran’s Supreme National Security Council, Ali Shamkhani had reportedly said that the recent US block of Iran’s loan request amounts to “crime against humanity”. Meanwhile, Rouhani urged the International Monetary Fund to sanction the emergency loan that is required to combat the coronavirus pandemic.

IMF has repeatedly shown promptness to help needy countries battling the pandemic. The economic organisation on its website had previously stated that a "Rapid Financial Instrument is available to all member countries facing an urgent balance of payments need". However, Iran has not been issued a loan due to a ‘stand by’ credit issued between 1960-62, international media reported citing IMF figures.

Speaking at Cabinet meeting, the Iranian President reportedly asked all the international leaders to fulfil their duties. Later, speaking in a televised address he added that Iran was an IMF member and that if there was going to be any kind of discrimination between Iran and other nations while issuing loans, “neither us nor world opinion will tolerate it".  Rouhani asserted that if the IMF does not act on its duties in this difficult situation, the world will judge the organisation in a different light. 

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