Afghan central bank calls on Biden, IMF to release funds

14:31, 01 September 2021
Afghan central bank calls on Biden, IMF to release funds Photo: Xinhua/GLOBAL LOOK PRESS

Afghanistan’s central bank’s senior board member said that the International Monetary Fund and the U.S Treasury should provide the Taliban* government with at least limited access to the frozen assets of the previous government or else the country will have an economic catastrophe. 

"If the international community wants to prevent an economic collapse, one way would be to allow Afghanistan to gain limited and monitored access to its reserves. Having no access will choke off the Afghan economy, and directly hurt the Afghan people, with families pushed further into poverty," said Shah Mehrabi who is a board member of Afghanistan’s central bank since 2002 in an interview with Reuters.

He suggests that the US must allow the Taliban to withdraw a limited amount of money ranging from $100 million to $125 million each month.

The way the Taliban spends the sum would be monitored by an independent inspection, according to Mehrabi.

Da Afghanistan Bank has around $7 billion in assets frozen in the US.

The militant group got control over Afghanistan after the US and other major Western countries announced their decision to withdraw from the country.

After the Taliban took over Kabul the US administration decided to freeze the assets of Afghanistan’s central bank in an attempt to put the Taliban under pressure.

Along with the frozen assets, much of the international organization’s aid to Afghanistan has been halted.

Among them the World Bank who announced that it will no longer send financial help to Afghanistan following reports of women maltreatment.

*Taliban is a terror organization banned in the US, Russia and many other countries