Desk Report
Publish: 19 Aug 2021, 03:40 pm
IMF logo (Photo: Collected)
The IMF will withhold funds to Afghanistan
amid the uncertainty over the status of the leadership in Kabul, a spokesperson
for the institution told AFP Wednesday. The move comes after the US government
took steps to block Afghanistan's assets held in US accounts following the
swift Taliban takeover of the country over the weekend.
"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... IMF
resources," the official said.
That would include an existing
$370 million loan program, as well as access to reserves in the form of Special
Drawing Rights (SDR), the IMF's basket of currencies.
"As is always the case, the
IMF is guided by the views of the international community," the fund
official said.
The IMF has taken similar action
before when a critical mass of member nations fail to recognize a country's
government, as in the case of Venezuela.
Next week the IMF is set to
distribute $650 billion to all eligible members, of which Afghanistan's share
was valued at about $340 million.
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Topic : IMF Afghanistan
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