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IMF suspends funds for Afghanistan

Mohammad Parwiz Arian

KABUL: Afghanistan is deprived of having a grant from the $650 billion special drawing rights allocated by the International Monetary Fund (IMF) to the member countries.

Referring to the ongoing chaos in the country, IMF’s spokesman, Gerry Rice told the reporters that Afghanistan will not have access.

“Our engagement with Afghanistan has been suspended until there is clarity within the international community on the recognition of the government,” he added. “We’re guided by the international community in terms of the recognition of the government in Afghanistan, and we don’t have that. So, the IMF program there, which you asked about, has been put on hold. And again, as we said last month, the country cannot access IMF resources, SDRs and so on at this point. But again, I want to say that we stand ready to work with the international community to advocate for urgent actions to stall a looming humanitarian crisis.”

Off $650 billion, 275 billion is allocated to the development of underdeveloped countries. However, the IMF expressed its deepest concerns on the economical crisis and humanitarian catastrophe in Afghanistan.

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