Iran asks for billions in loans as virus deaths climb to 429

Tehran: Iran's Health Ministry on Thursday said the new Coronavirus has killed 75 more people, raising the death toll to 429 amid over 10,000 cases as the Islamic Republic revealed it had asked for a multibillion-dollar loan from the International Monetary fund to fight the virus.

Health Ministry spokesman Kianoush Jahanpour announced the latest virus figures in a televised news conference.

Iran has asked for an emergency USD 5 billion loan from the International Monetary Fund to combat the outbreak there, which has killed more than 360 people and infected some 9,000 people in the Islamic Republic.

Iran's Central Bank chief Abdolnasser Hemmati on Thursday said he made the request last week in a letter to IMF chief Kristalina Georgieva. The international lender has said it stands ready to support countries through a Rapid Financial Instrument.

Iran's economy has been battered by US sanctions, which have choked Tehran's ability to sell its oil. The recent outbreak of the virus there has compounded its economic woes, with all of Iran's neighbours closing their borders to Iranians and multiple nations cutting travel links with Iran, including shipping in some cases, which is affecting imports, as well.