Help The Kashmir Monitor sustain so that we continue to be editorially independent. Remember, your contributions, however small they may be, matter to us.

IMF suspends Afghanistan’s access to funds

download 1 1


WASHINGTON: The International Monetary Fund said on Wednesday that Afghanistan will not be able to access IMF resources, including a new allocation of Special Drawing Rights reserves, due to a lack of clarity over the recognition of its government after the Taliban seized control of Kabul.

“As is always the case, the IMF is guided by the views of the international community,” an IMF spokesperson said in a statement. “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.”

 

Access to the IMF’s reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, have also been blocked. SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan.

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