Home / Latest Updates / Russian envoy warns of Afghani currency freefall

Russian envoy warns of Afghani currency freefall

AT News

KABUL: Russia’s special envoy for Afghanistan has warned that afghani currency may continue to be in free fall as Afghanistan’s assets continue to be frozen by the US and its allies.

“Our Western colleagues need to somehow solve this issue now,” said Russian presidential envoy for Afghanistan Zamir Kabulov.

Speaking to the Rossiya-24 TV channel, he said: “I don’t quite understand the rationale behind this move. Money tends to devalue, when not in circulation.”

He said Afghanistan was faced with cash shortages, not just of the US dollar, but of the national currency as well.

Alleging that big corporations, both domestic and international, had amassed huge amounts of the national currency in their vaults, he said there is a lack of cash in circulation in Afghanistan.

In mid-August, the Biden administration froze the Afghan central bank’s reserves to deny the Taliban access to the funds worth more than nine billion dollars.

Kabulov also said that Russia is ready to participate in big economic projects in Afghanistan. But he asserted that Russia remains mostly interested in political stability in Afghanistan.

He said an independent and self-sufficient government is needed in Afghanistan which has friendly relations with Russia.

About Sediq Jan

Check Also

World Bank to unfreeze $280m in Afghanistan funds

AT News KABUL: The World Bank Board has approved the transfer of $280 million from …