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2021-08-19 Afghanistan
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US freezes assets of Afghanistan central banks as Taliban takeover
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At least it’s something. Not that they won’t replenish their funds, between the opium and permitting China to extract a variety of natural resources. [KhaamaPress] Gandhara has cited a US administration official that the country has frozen the reserve of Afghanistan central bank currently in US accounts to deprive the Taliban
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of the assets.
As the official cited Tuesday, August 17, these billions of dollars will not be available for the Taliban.
The decision which will apparently hit millions of people in Afghanistan comes days after the Taliban grabbed control over the entire Afghanistan but Panjsher province.
This decision by Biden’s administration will not only suppress the Taliban leadership and their upcoming government but will also adversely affect the lives of millions of people who are already suffering from drought, unemployment, and poverty.
As per the International Monetary Fund, the central bank of Afghanistan namely De Afghanistan Bank had up to $9.4 billion at the end of April this year.
The assets of Afghanistan does not only include billions of dollars but also gold and US treasuries.
Since the Taliban is yet to be recognized by any country in the world, the situation will make it rather difficult for them to access their external fund.
Some countries have shown green signals for recognition of the Taliban in case they shape an inclusive government and respect women’s rights.
The Taliban spokesperson Zabiullah Mujahid in his first official presser in Kabul said that negotiations over the upcoming government setup are going on and added that there will be an inclusive Islamic government in Afghanistan.
The head of Afghanistan’s Central Bank meanwhile said the country’s supply of physical US dollars is "close to zero." Afghanistan has some $9 billion in reserves, Ajmal Ahmady tweeted, but most is held outside the country, with some $7 billion held in US Federal Reserve bonds, assets and gold.
Ahmady said the country did not receive a planned cash shipment amid the Taliban
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offensive.
"The next shipment never arrived," he wrote. "Seems like our partners had good intelligence as to what was going to happen."
He said the lack of US dollars will likely lead to a depreciation of the local currency, the afghani, hurting the country’s poor. Afghans have been lining up outside ATM machines for days, with many pulling out their life savings.
Ahmady said the Taliban will struggle to access the country’s reserves because of international sanctions.
The "Taliban won militarily — but now have to govern," he wrote. "It is not easy." 
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Posted by trailing wife 2021-08-19 00:00||
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