2021-May-11 21:33
2021-April-6  13:59

Iran’s Chief Banker Calls for Fair Performance of IMF, WB

TEHRAN (FNA)- Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati urged the International Monetary Fund (IMF) and the World Bank (WB) to act fairly toward G24 countries.

Hemmati stressed that the IMF and World Bank are expected to fulfill the members' legal demands, away from any political lobbies and pressures.

"Demands are expected to be met without discrimination and not under the influence of political lobbies," the official said, addressing a G24 virtual meeting on Monday.

He stressed the need for unbiased support of the IMF and called for inclusive cooperation to transfer the technology of producing drugs for the COVID-19 and the distribution of the drugs needed. 

"Presently, what is very vital and important is global cooperation, the transfer of technical know-how for production and possibility of equitable production and distribution of vaccines at reasonable prices," the official noted.

"IMF and WB have a key role to play in supporting member countries to mitigate the health and economic effects of the pandemic and the various stages of recovery," he noted.

He underscored that the IMF must have sufficient resources to meet the large financial needs of its members in the incidence of a crisis. 

The G24 meeting was chaired by Hemmati in the presence of the heads of the IMF and the WB, and the heads of the central banks of member states.

Examining the global economy, contributing to the economic recovery of developing countries after the coronavirus pandemic, and promoting cooperation between members were the main topics of the meeting.

In relevant remarks on April 1, Hemmati asked the International Monetary Fund (IMF) to defy the US sanctions and grant the emergency loan requested by Tehran for campaign against the coronavirus outbreak.

He made the remarks at the webinar of the Spring Meeting of the World Bank Group and the IMF.

"The IMF has already given more than $100 billion in loans to 85 countries, adding that the Fund has loaned nearly $16 billion to countries in the Middle East and North Africa (MENA) plus Afghanistan and Pakistan (MENAP) region, but Iran, which was one of the first countries to demand emergency funds, has not received any facilities so far without providing any logical reason," Hemmati said.

"Since the coronavirus outbreak, the economies of countries, especially developing states, have been seriously damaged and Iran is one of the countries most affected by the pandemic in the region," he added.

Hemmati pointed out that despite the sanctions and the maximum pressure imposed by the US, Iran has been able to overcome the problems and take suitable measures.

He described the inaction by the IMF as a clear contradiction to the spirit and goals of an international organization, and said that Iran expects the IMF to respond to its legal request as quickly as possible without discrimination and influence imposed by political lobbyists or pressure from the US.