Other Economies
Sum of Measures 1—5 (Total Package)
| 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. |
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| 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. |
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| 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. |
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| 04 - Equity support info_outline | No amount/estimate: September 2020, 1% of sovereign wealth fund to stabilize stock market. |
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| 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. |
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| 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 |
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| 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. |
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| 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. |
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| 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. |
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| 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. |
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| 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] |
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| 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. |
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| 12C - Others |