He pointed to the economic situation of countries during the outbreak of coronavirus, also known as COVID-19, and added, “at the condition that developed countries enjoy sufficient resources for the implementation of incentive measures at national level, low-income countries do not have access to such facilities and resources.”
Exacerbation of uncertainties, the issue of banks’ financial turnover, restriction of access to the global financial markets and heavy burden of debts put additional pressures on low-income countries, he emphasized.
Following the spread of COVID-19, many of these low-income countries have requested IMF for financial support, he said, adding, “the Fund has expressed readiness to provide rapid economic support to countries affected by the crisis similar to the years between 2008 and 2010, Pankin added.
On March 12, it was announced here that the Central Bank of Iran had asked the IMF for a $5 billion emergency funding to combat the outbreak of COVID-19 in the country, the worst-affected in the Middle Eastern region.
MA/83775483