"No Soap to Wash Hands in Hospitals"... Iran and Venezuela Request Support from the US

Iran Requests $5 Billion Rapid Financing Facility from IMF, Largest U.S. Stakeholder
Venezuela Formally Demands Sanctions Relief from U.S.

[Asia Economy Reporter Naju-seok] Iran and Venezuela, which are under U.S. economic sanctions, have finally requested international support amid the spread of the novel coronavirus infection (COVID-19). The rapid spread of COVID-19 in a situation where health and social safety nets have weakened due to economic sanctions has made it impossible for them to endure any longer. These countries have drawn attention as they requested help from hostile countries such as the United States.

On the 12th (local time), Javad Zarif, Iran's Foreign Minister, announced on Twitter that Iran requested $5 billion (6.1155 trillion KRW) in Rapid Financing Instrument (RFI) support from the International Monetary Fund (IMF) for COVID-19 response purposes. The Central Bank of Iran also disclosed the fact that it requested support from the IMF through social networking services (SNS) and other channels.

[Image source=Yonhap News]

Earlier, Kristalina Georgieva, IMF Managing Director, mentioned regarding COVID-19 support measures that "through a $40 billion RFI, financial support can be provided to emerging markets."

Iran is currently one of the countries with the fastest spread of COVID-19. Officially confirmed cases have reached 10,000, with 400 deaths. In particular, it shocked many as it was revealed that many government ministers and members of parliament were infected with COVID-19.

The international community believes the actual number of confirmed cases is higher than this because of a shortage of diagnostic kits and other resources. Although Iran is an oil-producing country with a considerable industrial base, it is struggling to procure materials necessary for diagnosis kits, masks, quarantine, and treatment. While pharmaceuticals are not directly targeted by sanctions, difficulties in payment and other issues have made imports practically impossible.

Although Iran requested funds from the IMF, the possibility of approval is uncertain because the United States, which holds the largest share in the IMF, is involved. Iran urgently appealed, stating that maintaining sanctions amid the rapidly increasing COVID-19 deaths amounts to a "war crime."

Venezuela officially requested the United States to ease sanctions to import medical supplies for COVID-19 response. Venezuelan President Nicolas Maduro held a press conference that day, appealing, "Please allow Venezuela to buy what is necessary to face the current situation."

Venezuela has no confirmed COVID-19 cases yet, but there is great fear that the virus will spread rapidly considering Venezuela's poor medical conditions once the spread begins. President Maduro said, "After testing dozens of cases, there were no confirmed cases," but analysts suspect that proper testing is not being conducted due to a shortage of diagnostic kits and other factors.

[Image source=Reuters Yonhap News]

According to Bloomberg News, Venezuelan medical staff are pleading that they are completely unprepared for COVID-19. Medical personnel reported, "There are no diagnostic kits, and some hospitals do not even have soap for handwashing." The fact that confirmed cases have already appeared in neighboring countries such as Colombia and Brazil is also a source of anxiety for Venezuela.

A Venezuelan health official lamented, "Where are the authorities who should issue response guidelines for medical staff, and when will the support supplies arrive?" adding, "Even if support supplies arrive, medical and technical personnel have already left the country due to the economic crisis."

This content was produced with the assistance of AI translation services.