loading…
As reported by Al Arabiya, Friday (10/29/2021), Afghanistan parks billions of dollars in assets abroad, namely in the Federal Reserve of the United States (US) and other central banks in Europe. But the money has been frozen since the Taliban toppled the Western-backed government in August.
Read: Taliban Demonstrate Business Power for Pakistan
As a result, Afghanistan is now on the brink of a cash crisis, in addition to the migration crisis. Mass hunger is also lurking in the country. To that end, the Taliban are urging those holding their funds to release billions of US dollars in Afghan funds.
“The money belongs to the Afghan state. Just give us our own money,” Afghan Ministry of Finance spokesman Ahmad Wali Haqmal told Reuters. “Freezing this money is unethical and goes against all international laws and values,” he continued.
A top central bank official called on European countries, including Germany to release part of their reserves to avoid an economic collapse that could trigger mass migration to Europe.
Read: Try Changing Image, Son of the Founder of the Taliban Appears on Television for the First Time
“The situation is desperate and the amount of cash is decreasing,” said Shah Mehrabi, a board member of the Central Bank of Afghanistan. “There is not enough (funding) right now to keep Afghanistan until the end of the year. Europe will be hardest hit, if Afghanistan doesn’t get access to this money,” Mehrabi continued.
“You’re going to get a double hit because the Afghan people can’t find bread and can’t afford it. People will despair. They will go to Europe,” he added. Mehrabi hopes that, although the US admits that it will not release the $9 billion of funds belonging to Afghanistan, he still hopes that European countries will release the funds belonging to Afghanistan.
– .
