IMF freezes Afghan funds as Taliban takes over country

IMF freezes Afghan funds as Taliban takes over country

another story a related story about the imf suspending afghanistan’s access to funds they’re due for a 370 million dollar uh allocation to what are called strategic drawing rights it’s kind of like the currency of the imf it represents a basket of currency including u.s dollar euros and what have you but that’s not going to go to the taliban um as you would expect that those funds have been cut off and in fact the federal reserve which warehouses about 7 billion of their 9 billion dollars in reserves uh has blocked access as well so the taliban is still operating on illicitly gained funds they have a little bit of access to money still in the country but not much through kiko yeah i mean there’s plenty of time to to sort of reassess what played out but in the meantime the reality right now is that the taliban um that is the government in afghanistan right now they’re going to try to build things out but in the meantime we’ve heard the un for example talk about this brewing humanitarian crisis that is unfolding within the country and there are real questions as you pointed out jared about how in fact the taliban is going to rule without those funds in place and it’s worth reiterating those numbers that you just highlighted whether it is the seven billion dollars in place in terms of foreign reserves to your note the biden administration has already blocked that the imf money has been blocked as well and then you’ve got the european countries germany the eu many other countries who early on last fall sent afghanistan 12 billion or committed to send afghanistan 12 billion over the next four years and they have now said that they would block that as well so you think back to what the thriving economy was um or how the economy thrived you know pre-2000 under the last taliban government you know we talked a lot about the illicit trade that happened through growing poppy um in afghanistan i think there’s gonna be real questions here but you know worth noting that even as we talk about what this new government the new economy is going to look like it’s really the afghan people who are sort of caught in the middle here and um there is a real humanitarian issue that i think it needs to be addressed moving forward i mean something we should certainly keep a close watch on right and for centuries uh the graveyard of empires as it’s called and to andy serwer’s point um yeah there’s a lot of countries involved here that have uh that have fought similar wars before from russia to uh others so we’re gonna keep tabs on that
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IMF freezes Afghan funds as Taliban takes over country

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