Iran is asking the International Monetary Fund for a $5-billion emergency loan, but the United States is reportedly set to block it. coronavirus
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.
According to the IMF's website, a Rapid Financial Instrument"is available to all member countries facing an urgent balance of payments need." US President Donald Trump's administration has waged a campaign of"maximum pressure" on Iran since it withdrew from a landmark nuclear deal in 2018. Medicines and medical equipment are technically exempt from the US sanctions but purchases are frequently blocked by the unwillingness of banks to process purchases for fear of incurring large penalties in the US.
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