Governor Hemmati's Remarks at the MENA Governors Virtual Meeting

Governor Hemmati's Remarks at the MENA Governors Virtual Meeting
As prepared for delivery

COVID-19 has harmed many countries among which, Iran’s harm is bigger than many. Despite US outrageous sanctions and the hard situation facing our country, we managed to contain this problem and advance our economic policies. 

However, we should accept that each country needs suitable and sufficient financial resources to advance its policies. The unpredictable situation has confronted countries with liquidity and budget problems. Iran is no exception. It could take appropriate measures relying on its legal resources, but the problem is that the US outrageous sanctions have denied Iran access to its funds which have been blocked outside the country with no acceptable logic. 

Meanwhile and with regard to the current situation, Iran, like other IMF members, maintains the right to request emergency facilities provided by IMF for countries to combat Coronavirus. We were among the first countries that have applied for emergency funds, but, unfortunately, the process has lasted too long illogically and with no clear result. I have recently been informed that based on the office memorandum dated 15 October 2020, the executive director of the American Group is instructed to oppose the Iran’s request for facilities. 

In this way, the desire of one country is denying another one access to financial resources which are required to deal with the effects of Covid-19. This is in obvious contradiction with the spirit and the goals of an international organisation. We expect that the IMF responds quickly to this legal request with no discrimination and influences made by political lobbies or pressures on the side of other countries including the United States.
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