Other Economies

Sum of Measures 1—5 (Total Package)

Total Package in USD Million: 79,351.66
% of GDP (2020): 10.05%
% of Regional Total Package: N/A
Package Per Capita in USD: 957.04
Note: Measures 9 and 10 are added to the sum of Measures 1-5.
Measure Amount (Local) Amount (USD) Details Update Source
01 - Liquidity Support info_outline IRR105,000,000,000,000 USD2,500,000,000
01A - Short-term lending info_outline
01B - Support policies for short-term lending info_outline
01C - Forex operations info_outline IRR105,000,000,000,000 USD2,500,000,000

(i) The Central Bank of Iran announced it injected USD1.5 billion in the foreign exchange market to stabilize the rial; (ii) July 2020, injected another USD1 billion.

02 - Credit creation info_outline
02A - Financial sector lending/funding info_outline
02B - Support policies for long-term lending info_outline
02B1 - Interest rate adjustments
02B2 - Other policies to support long-term lending
02C - Loan guarantees
03 - Direct long-term lending info_outline IRR1,011,221,094,840,000 USD24,076,692,734
03A - Long-term lending info_outline IRR1,011,221,094,840,000 USD24,076,692,734

Subsidized loans for affected businesses and vulnerable households at 4.4% of GDP.

03B - Forbearance

No amount/estimate: (i) Central bank agreed with commericial banks to postpone payment of loans due on February 2020 by 3 months; (ii) offered penalty waivers for customers with non-performing loans.

04 - Equity support info_outline

No amount/estimate: September 2020, 1% of sovereign wealth fund to stabilize stock market.

05 - Health and income support IRR2,216,548,570,560,000 USD52,774,965,966
05A - Health support IRR469,893,952,200,000 USD11,187,951,243

(i) Additional funding to health sector at 2% of GDP; (ii) January 2021, USD244 million for initial imports of 16.8 million doses of vaccines from COVAX.

05B - Income support IRR1,746,654,618,360,000 USD41,587,014,723
05B1 - Tax and contribution deferrals and policy changes IRR1,608,760,832,700,000 USD38,303,829,350

Moratorium on tax payments at 7% of GDP

05B2 - Tax and contribution rates reduction
05B3 - Subsidies to individuals and households IRR137,893,785,660,000 USD3,283,185,373

(i) cash transfer to vulnerable householders at 0.3% of GDP; (ii) support to unemployment insurance fund at 0.3% of GDP.

05B4 - Subsidies to businesses
05B5 - Indirect income support
05B6 - No breakdown (income support)
05C - No breakdown (health and income support)
06 - Budget reallocation info_outline
07 - Central bank financing government
07A - Direct lending and reserve drawdown
07B - Secondary purchase: government securities
08 - International Assistance Received IRR2,100,000,000,000 USD50,000,000
08A - Swaps info_outline
08B - International loans/grants IRR2,100,000,000,000 USD50,000,000
08B1 - Asian Development Bank
08B2 - Other IRR2,100,000,000,000 USD50,000,000

(i) 31 May 2020, USD50 million from the World Bank for Iran COVID-19 Emergency Response Project.; (ii) 11 March 2021, 500,000 does of Covaxin vaccine to be sent by India.

09 - International Assistance Provided
09A - Swaps info_outline
09B - International loans/grants
10 - No breakdown

No amount/estimate: Central Bank allocated funds to import medicine.

11 - Other Economic Measures

(i) Sukuk bonds and the National Development Fund used to partly fund recovery and relief measures; (ii) April 15, government announced its biggest-ever initial public offering, selling its residue shares in 18 companies (including 12 percent share of Social Welfare Fund (SHASTA), the largest public company); (iii) expanded contacless payments and increased the limits for bank transactions in order to reduce circulation of banknotes and exchange of debit cards; (iv) 7 May 2020, estimated privatization proceeds are at around IRR165 trillion (0.6% of GDP) from banks and insurance companies and IRR70 trillion (0.2% of GDP) from SHASTA.

12 - Non-Economic Measures
12A - Measures affecting travel and transport (local and international)

(i) Stopped flights from China; (ii) 27 April 2020, reopened all international borders (except Turkmenistan) to revive regional trade; (iii) 28 November 2020, new restrictions like curfew and lockdowns and mandatory wearing of mask in affected regions; (iv) 8 May 2021, local travel banned during days leading to end of Ramadan. [update]

12B - Measures affecting business and workplace

(i) closed schools and malls, key religious sites, banned cultural and religious gatherings, released a high number of prisoners; (ii) 25 March 2020, partial lockdown announced, closing of businesses and government offices for two weeks; (iii) Staggered reopening of businesses that are low or average risk in terms spreading the virus; (iv) 31 October 2020, new restrictions as cases surge: (a) cinemas, cafes, gyms and pools in those counties will remain shut for 10 days, (b) events and gatherings will also be suspended, (c) educational facilities will move classes online.

12C - Others