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Iran: Emergency measures to support companies, poor amid coronavirus 

March 16, 2020 at 10:43 am

Bank Tejarat of Iran [Financial Tribune/Twitter]

Iranian President Hassan Rouhani yesterday announced a series of banking and tax relief measures to support companies and poor families in light of the economic pressure brought about by the outbreak of the coronavirus, Bloomberg reported.

Rouhani said in a meeting that employees can postpone the payment of health insurance bills, taxes and utilities for three months, while the poorest three million Iranians will receive cash assistance amounting to six million riyals ($1,637) on 17 March.

According to Bloomberg, Iranian banks will also remove restrictions and limits on cheque payments for companies.

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The Iranian president has ruled out a general quarantine or the option of closing the country’s borders.

The Iranian Central Bank announced earlier relief measures related to taxes and insurance for small and medium-sized companies.

Iran has requested $5 billion in financial aid from the International Monetary Fund, the first request submitted by the Islamic Republic to the IMF since the 1960s.

On Sunday, Iran announced that the death toll from the coronavirus has risen to 724 people and confirmed around 14,000 had been infected and 4,590 had recovered from the virus.