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PIA runs first chartered commercial flight to Afghanistan             Afghan Education Ministry to Modify Curriculum             6 in 10 Americans say US ígone off on wrong trackí: Poll             US Joint Chiefs of Staff Chairman: America would work with Taliban on Daesh-K             US lawlessness, Europe inaction responsible for status quo surrounding JCPOA: Iran FM             After Ida, small recovery signs amid daunting destruction             McConnell: Biden not going to be removed from office             Fighting Continues Between Taliban, Resistance Forces             Taliban Expected to Announce New Govt Soon             Biden Defends Decision to Withdraw From Afghanistan             Taliban accuse US of destroying equipment including helicopters             Qatar warns isolating Taliban could further destabilize Afghanistan             India announces first formal meeting with Taliban             Pentagon: China will soon surpass Russia as top nuclear threat             US warns citizens to Ďimmediatelyí leave Kabul airport            


DATE PUBLISHED: 1400/05/29 - 00:07:5
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IMF Blocks Afghanistanís Access to Emergency Reserves

The International Monetary Fund has suspended Afghanistanís access to IMF resources, including around $440 million in new monetary reserves, due to a lack of clarity over the countryís government after the Taliban took control of Kabul, Reuters reported on Thursday.

The IMFís announcement came amid pressure from the US Treasury, which holds a controlling share in the Fund, to ensure that Afghanistanís share of a Special Drawing Rights reserves allocation scheduled for Monday not fall into Taliban hands.

"There is currently a lack of clarity within the international community regarding recognition of a government in Afghanistan, as a consequence of which the country cannot access SDRs or other IMF resources," an IMF spokesperson said in an emailed statement as quoted by Reuters.

"As is always the case, the IMF is guided by the views of the international community," the spokesperson added.

According to Reuters report, the Fund has traditionally relied on its membership to decide whether to engage with governments that take power in coups or disputed elections.

Even if Afghanistan were to regain access to the SDRs, it would be unlikely the Taliban could spend those resources because that would require another country to be willing to exchange the SDRs for underlying currencies, a transaction that would likely be blocked by long-standing US financial sanctions against the Taliban, according to Reuters.

US national security adviser Jake Sullivan said on Tuesday it was too soon to determine whether the United States would recognize the Taliban as the legitimate governing power in Afghanistan, citing a "chaotic situation in Kabul."

 

LINK: https://www.ansarpress.com/english/23693


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