In order to combat mounting economic losses caused by the COVID-19 pandemic, lawmakers and central bank officials worldwide are preparing relief measures. The Federal Reserve has announced that it will inject $1.5 trillion into short-term financial markets to offset the economic impact of COVID-19. Additionally, president of the Eurogroup, Mário Centeno, announced that the Eurozone will flex budget rules in order to boost spending.
Iran, one of the countries hardest hit by the COVID-19 pandemic, has appealed to the International Monetary Fund (IMF) for $5 billion in emergency funding. Iran’s economy, already suffering under US sanctions, is now under greater pressure from a virus that has already infected over 10,000 Iranians. The IMF plans to support countries affected by COVID-19 via Rapid Financial Instrument.
Click here to read our report on Coronavirus Risks for Businesses and Politics.
