Iran, which already has a fragile economy, is seeking a $5 billion loan from the International Monetary Fund to fight the virus. The IMF is responsible for maintaining the international monetary system and stabilizing the global economy. The group is one of the largest lenders of funds and keeps track of the economies of its 189 member countries. Member countries contribute to the IMF an amount based on its wealth called a quota. The fund's largest loan package was made to Argentina in 2018 in the form of a $56 billion bailout to be paid over three years.

Source: Fox News March 14, 2020 01:07 UTC