IMF Tightens Its Grip On Afghanistan Financial Support

The Taliban are losing billions of dollars after the capture of Afghanistan. There are two major reasons for this—first, the amount transferred by the US that has been clutched and second, following Joe Biden’s hint, the IMF has also seized the assistance.

-Vaishali Pandey

Mullah-Abdul-Ghani of Taliban

The International Monetary Fund (IMF) has stopped the withdrawal of nearly  460 million dollars to Afghanistan following the violent takeover of Afghanistan by the Taliban. The IMF says there is confusion in the country’s leadership after the Taliban came in.

The IMF’s decision comes after US President Joe Biden said that money should not go into the hands of the Taliban in any case.

US Orders The Transfer Of Billions Of Dollars

Earlier, US President Biden had also ordered the transfer of billions of dollars of Aghanistan’s foreign deposits to somewhere else. Under this, about 9.4 billion dollars of Afghanistan central bank money was seized. This was informed by Ajmal Ahmadi, acting Governor of Afghanistan’s Central Bank, Da Afghanistan Bank (DAB). It can be recalled that Ahmadi had left the country before the Taliban arrived.

Read More: Who is Who in Taliban, All You Need to Know

He informed that Afghanistan has about 9.4 billion dollars in deposits abroad. Out of these, about 7 billion dollars are in the form of US Federal Reserve bonds and assets. It also has gold worth 1.3 billion dollars.

The Washington Post report quoted the US administration’s statement that the Taliban will not be able to touch the money in any way after the decision. It said the Ministry of External Affairs and the White House had discussed the matter earlier. The aim was to put pressure on the Taliban by the Biden administration.

Intense Economic Crisis Is Coming In Afghanistan

This decision could deepen the economic crisis not only for the Taliban but also for Afghan nationals in general.

Let me tell you that Afghanistan has been running for a long time with financial assistance from foreign countries and international financial institutions. But now the ban on it could quadruple worsening economic situation.

The deteriorating economic condition of the country could lead to a steep spurt in the prices of essential services and food items. This is a challenging time not only for the Taliban but for the whole region.

For the unversed, the Taliban captured Kabul on August 15. It is then moving towards forming a government in Afghanistan. Talks are also underway in Doha. Taliban also held talks with some countries on the issue.

The Taliban has also asked the world community to speak in favour of them. On the other hand, many countries of the world are constantly monitoring the situation developed in the country including India.


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