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US to hold first meeting on Afghanistan’s reserves next month


Kabul: Thomas West, the US special representative for Afghanistan, said in a virtual meeting about Afghanistan’s foreign exchange reserves that the first meeting among the members of the Afghanistan trust fund is expected to be held next month.

According to West, the fund’s board members, that includes two representatives from the US and Switzerland and two from Afghanistan will make major decisions about Afghanistan’s $3 billion foreign exchange reserves.

West said that in addition to the members of this board, another board consisting of Afghan experts will also be formed.

Thomas West added, that in the last 24 hours, the US has allowed two bank transactions in Afghanistan to overcome the correspondent banking challenges, one was the cost of newly printed banknotes printed in Poland,  which was proposed by MoF and paid by the Central Bank of Afghanistan.

Recently, the US Department of Finance has announced that it will transfer 3.5 billion dollars from the frozen assets of the Central Bank of Afghanistan to a trust fund in Switzerland so that it is out of the reach of the Taliban and used to stabilize the Afghan economy.

According to Reuters news agency, this fund, which is managed by a board, will be used to pay Afghanistan’s debt, including electricity debt and printing new currency.


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