Iran Central Bank asks IMF to use INSTEX for loans

The Governor of the Central Bank of Iran (CBI) has requested the International Monetary Fund approve $5 billion in loans to assist Iran with the outbreak of Covid-19. CBI has suggested the loans be processed via the EU’s special purpose vehicle INSTEX or the Swiss Humanitarian Trade Arrangement, both of which were established to facilitate humanitarian-related transactions with Iran (see …

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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