Iran, one of the Asian countries, which was badly hit by Covid-19 pandemic is in the midst of financial and social turmoil. Iran has been seeking financial assistance from multilateral agencies to fight the spread of the pandemic in the country. It sought $5 billion loan from International Monetary Fund.
Iran has so far been eating into its resources. On April 7, Iranian Supreme Leader Ali Khamenei approved President Hassan Rouhani’s request of a $1 billion withdrawal from the National Development Fund of Iran to deal with the pandemic. The fund holds Iran’s foreign reserves estimated approximately $90 billion, obtained from the country’s oil and gas exports.
There is widespread anger against the ruling dispensation over the mishandling of the pandemic. The main criticism is that while the people were facing acute shortage of medical supplies and economic crisis, the government was sitting over huge funds that were reserved for ‘exporting Iranian Revolution’. Several influential reformist leaders urged Khamenei to release billions he controls for the benefit of Iranians. According to them, the funds which are intended for the well-being of the poor in the Iranian society do not reach them. On the other hand, these funds benefit only a small circle of Khamenei loyalists. A substantial part of the fund goes to promote Islam and Iran’s interests in Syria and Iraq.
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