Iran asks for billions in loans as virus death toll climbs

Iran said Thursday it asked the International Monetary Fund for a $5 billion loan to fight the coronavirus, the first time since the 1979 Islamic Revolution that it has sought such assistance, in a staggering admission of how fragile its economy has become amid the epidemic and punishing U.S. sanctions. Foreign Minister Mohammad Javad Zarif tweeted that the Washington-based IMF should “stand on right side of history & act responsibly” by releasing the funds. Iran's Central Bank chief Abdolnasser Hemmati said he asked for the $5 billion loan last week in a letter to IMF chief Kristalina Georgieva.

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