International
Taliban Presses For Billions Of Dollars Stashed In US, Europe
- One top central bank official called on European countries including Germany to release their share of the reserves to avoid an economic collapse…
EKO HOT BLOG reports that Afghanistan’s Taliban government is pressing for the release of billions of dollars of central bank reserves as the drought-stricken nation faces a cash crunch, mass starvation and a new migration crisis.
Afghanistan parked billions of dollars in assets overseas with the U.S. Federal Reserve and other central banks in Europe, but that money has been frozen since the Islamist Taliban ousted the Western-backed government in August.
A spokesman for the finance ministry said the government would respect human rights, including the education of women, as he sought fresh funds on top of humanitarian aid that he said offered only “small relief”.
Under Taliban rule from 1996-2001, women were largely shut out of paid employment and education and normally had to cover their faces and be accompanied by a male relative when they left home.
Read also: US Agreed To Provide Humanitarian Aid To Afghanistan, Says Taliban After Talks
“The money belongs to the Afghan nation. Just give us our own money,” ministry spokesman Ahmad Wali Haqmal told Reuters. “Freezing this money is unethical and is against all international laws and values.”
One top central bank official called on European countries including Germany to release their share of the reserves to avoid an economic collapse that could trigger mass migration towards Europe.
“The situation is desperate and the amount of cash is dwindling,” Shah Mehrabi, a board member of the Afghan Central Bank, told Reuters. “There is enough right now… to keep Afghanistan going until the end of the year.
“Europe is going to be affected most severely, if Afghanistan does not get access to this money,” said Mehrabi.
“You will have a double whammy of not being able to find bread and not being able to afford it. People will be desperate. They are going to go to Europe,” he said.
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