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.
|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. [update]
|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.
|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|