Washington: Despite its swift takeover of the government in Afghanistan, the Taliban will not have access to most of the nation’s cash and gold stocks, while the IMF announced it won t provide aid.
A spokesperson for the Washington-based crisis lender on Wednesday said it had decided to withhold its assistance to Afghanistan amid uncertainty over the status of the leadership in Kabul.
“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.
Central bank governor Ajmal Ahmady said on Twitter the Da Afghanistan Bank (DAB) had around $9 billion in reserves, but most of that is held overseas, out of reach of the Taliban.
“As per international standards, most assets are held in safe, liquid assets such as Treasuries and gold,” said Ahmady, who fled the country on Sunday, fearing for his safety as the Taliban swept into the capital.
The US Federal Reserve holds $7 billion of the country s reserves, including $1.2 billion in gold, while the rest is held in foreign accounts including at the Basel-based Bank for International Settlements, Ahmady said.
A US administration official told AFP on Monday that “any central bank assets the Afghan government have in the United States will not be made available to the Taliban.”
Amid reports the Taliban were quizzing central bank staff on the location of the assets, Ahmady said, “If this is true — it is clear they urgently need to add an economist on their team.”
He repeated that Washington on Friday had cut off cash shipments to the country as the security situation deteriorated, which may have fueled reports the Taliban stole the reserves since the country s banks could not return dollars to account holders.
“Please note that in no way were Afghanistan s international reserves ever compromised,” and are held in accounts that are “easily audited,” Ahmady said. AFP
