The economists said Monday the people appointed to manage the fund do not have the expertise to do so and collectively called for Afghanistan foreign reserves to be returned to the country. The first contact between the two nations occurred further back in the 1830s when the first recorded person from the United States explored Afghanistan. February 11, 2022 Statements and Releases As part of our ongoing work to address the humanitarian and economic crisis in Afghanistan, President Biden signed an Executive Order (E.O.) The economic situation in Afghanistan was obviously untenable and a source of suffering. Washington froze the money after the Taliban took power. The U.S. has given more than $1.1 billion in humanitarian aid to Afghanistan over the last year; the U.N. launched its largest ever appeal for a single country for Afghanistan more than $5 . Officials then decided to earmark half of the funds to pay the families of victims of the 9/11 attacks. US freezes billions in Afghanistan assets as it blocks Taliban from seizing country's wealth. According to the local media reports, the Taliban appealed to the Biden administration to release the assets as the country has been facing economic turbulence since it ousted the democratically . And the International Monetary Fund will block more than $400. the us president, joe biden signed an executive order on february 11, 2022, which cleared a pathway for releasing about $3.5 billion in frozen afghan reserve funds held in the united states to be used for humanitarian and other assistance in afghanistan, while an equal amount would be reserved for families of 9/11 victims who have legal claims This anarchic situation ended after the 9/11 terrorist attacks against the United States. First, DAB reserves in Afghanistan were frozen by the US, immediately after the initial Taliban takeover, in a bid to prevent the Taliban from accessing the money. The . Washington does not . The . The US-backed regime's budget estimate for the fiscal year 2020 was $6.22 billion . (Photo credit: DW) Officials from the US and the Taliban government in Afghanistan have reportedly exchanged proposals for the release of billions of dollars from the country's foreign reserves, which were frozen by Washington last year. People congregate outside a bank in Kabul, Afghanistan on Thursday, Aug. 26, 2021. Officials then decided to earmark half of the funds to pay the families of victims of the 9/11 attacks. Javed Ahmad Kakar. Another $2 billion of Afghanistan's funds have been frozen by other countries. Despite intense initial sanctions however, the Taliban has kept their control over Afghanistan. Billions of dollars in Afghan reserves frozen by the US Government, report says This month, the State and Treasury departments issued a joint statement announcing the establishment of the Switzerland-based Afghan Fund, which "will protect, preserve, and make targeted disbursements" of half of the frozen reserves, using the $3.5 billion to stabilize the Afghan economy while keeping the money "out of the hands of the Taliban . It leaves the insurgent group facing a cash crunch and pressure. Relations between Afghanistan and the United States began in 1921 under the leaderships of Amanullah Khan and Warren G. Harding, respectively. Washington does not want the money to be used to bankroll the Taliban, which vanquished western-backed forces in August 2021 following a 20-year conflict. Some $9.1 billion of Afghanistan's national reserves have been frozen overseas, and lack of access to these reserves is effectively preventing Da Afghanistan Bank (DAB) - the Central Bank of Afghanistan - from performing its core regulatory . The Biden administration froze about $9.5 billion of the Afghan government's reserves in US banks on Sunday after the Taliban seized Kabul, according to US media reports. (Jim Huylebroek/The New York Times) The establishment of the Fund marks important progress in implementing the Biden administration's plan for this half of Afghanistan's more than $7 billion of foreign exchange reserves frozen over a year ago. ATLANTIA (Pajhwok): Acting Foreign Minister Amir Khan Muttaqi has discussed the release of Afghanistan's frozen foreign reserves and economic issues with US representatives in Tashkent. The roughly $7bn the US has frozen - along with $2bn that DAB lost access to when the UK, Germany, Switzerland and the UAE followed suit - constitutes almost all DAB's foreign reserves. The Biden administration's decision to freeze $7 billion in foreign reserves belonging to the central bank of Afghanistan has propelled the world's largest humanitarian crisis. Biden to Drip-Feed Afghanistan Its $3.5 Billion in Frozen Reserves But it's just going to go in Taliban pockets, critics say. September 28, 2022 Foreign Policy The United States was urged on Tuesday by both China and Russia to release $7 billion of Afghanistan's foreign reserves that were frozen in the US banking system when the Taliban seized power in the country a year ago. Biden's Decision on Frozen Afghanistan Money Is Tantamount to Mass Murder Biden is crushing the Afghan economy by seizing $3.5 billion of its people's money and diverting the other $3.5 billion for. Hafiz Zia Ahmad, deputy spokesman for the MoFA, tweeted that Muttaqi discussed frozen assets, economic stability . According to the former acting governor of. U.S. and I.M.F. The freezing of Afghanistan's assets has also been a cause of this dire economic stagnation. WASHINGTON, Sept 3 (Reuters) - The Biden administration has no plans to release billions in Afghan gold, investments and foreign currency reserves parked in the United States that it froze after. Biden to Drip-Feed Afghanistan Its $3.5 Billion in Frozen Reserves The Biden administration does not plan to release billions of dollars of Afghan government assets held by the country's central bank anytime soon, citing concerns the funds could end up in the . Amid the deteriorating situation in Afghanistan, the all-men authorities asked the United States Congress to release the central bank assets frozen by the US government, reported TOLO News on Tuesday. Its $3.5 Billion in Frozen Reserves. It has been estimated the reserves would cover the import costs of Afghanistan for only 15 months. 'Huge Ramifications for Everyday Afghans' Even for Afghans who have money, the freeze on Afghan central bank reserves has made accessing cash difficult. The world overwhelmingly supported the U.S. military intervention to help the Afghan people free their . MEE staff. Saleha Mohsin The U.S. has frozen nearly $9.5 billion in assets belonging to the Afghan central bank and stopped shipments of cash to the nation as it tries to keep a Taliban-led government from. In an interview, Bilawal cautioned against creating "parallel governance" after . Another $2 billion of Afghanistan's funds have been frozen by other countries. The Afghanistan central bank held $9.4 billion in reserve assets as of April, according to the International Monetary Fund. The US will be "redirecting" $3.5bn of Afghanistan's frozen assets to a new fund that will be used to stabilise the Afghan economy, the US Treasury office announced on Wednesday. China and Russia called on the US on Tuesday to release $7 billion of Afghanistan's foreign reserves that were frozen when the Taliban seized control of the country a year ago. amid growing concerns of a major humanitarian crisis in afghanistan this coming winter, the u.s. state department and treasury department have, along with international partners, set up a fund in. The World Bank, the International Monetary Fund and the European Union suspended financing for projects in Afghanistan, and the United States froze $7 billion in Afghan foreign reserves held in New York. Apply a Financial Squeeze on the Taliban Most of the Afghan central bank's reserves are frozen at the Federal Reserve. Washington, D.C., Aug. 15, 2022 In response to reports that the U.S. will not consider releasing any of Afghanistan's frozen foreign reserves in the near-term, Paul Carroll, Director of the Charity and Security Network, released the following statement: "In refusing to release any of Afghanistan's frozen foreign reserves in the near-term, the Biden administration is effectively . The slashing of international aid gouged 45% out of the country's GDP, and the World Bank and the . Foreign aid to Afghanistan previously ran some $8.5 billion a year nearly half of the country's gross domestic product. US has blocked foreign reserves, financial institutions have halted payments since Taliban seized power in Afghanistan S. K. Khan | 24.09.2021 FILE PHOTO ISLAMABAD, Pakistan Afghans took to the streets of the capital on Friday to call for the release of central bank reserves frozen outside the country by the US after the Taliban takeover. By News Desk - July 26 2022. China and Russia called on the US on Tuesday to release $7 billion of Afghanistan's foreign reserves that were frozen when the Taliban seized control of the country a year ago. Following the botched withdrawal of US troops from Afghanistan last year, Washington froze $7 billion of the country's foreign reserves. But it's just going to go in Taliban pockets, critics say. 28 Jul 2022 - 14:04. According to sources who spoke with Reuters and are familiar with the talks . Following the botched withdrawal of US troops from Afghanistan last year, Washington froze $7 billion of the country's foreign reserves. The Biden administration has frozen billions of dollars in Afghan currency reserves and other assets held in US bank accounts following the Taliban reconquest of that country's government, a report. Catanzano and others call on the Biden administration to counter the unfolding crisis after it froze $9 billion that belonged to the Afghan government, most of which was in foreign reserves. Aug 18, 2021, 4:52 AM AP The US has frozen nearly $9.5 billion of Afghanistan's reserves after the Taliban seized power, reports say. The US government is planning to use $7bn (5.16bn) in frozen Afghan assets to compensate victims of the 9/11 attacks and for relief efforts. The United States government foreign aid program provided about $500 million in aid for economic . That amounts to roughly one-third of the country's annual economic output. Foreign Minister Bilawal Bhutto Zardari has cautioned against creating a "parallel governance" in Afghanistan, saying such a move would result in unintended consequences and more problems for others.. Bilawal said this during his meetings with the US lawmakers in Washington and in interview with news agencies.. The undeclared action was. Economists have vehemently opposed Washington's decision to establish the Afghan Fund and transfer $3.5 billion of Afghanistan's frozen assets into a . To rebuild the collapsing economy, Afghanistan must have a functioning central bank and a functioning central bank must have access to its foreign reserves. to help. "Why not give the $7 billion back to the Afghans", Hua tweeted noting that if US "stands with the people of Afghanistan." Fri 11 Feb 2022 13.25 EST First published on Fri 11 Feb 2022 08.54 EST Joe Biden signed an executive order on Friday releasing $7bn in frozen Afghan reserves to be split between humanitarian. The calls pressing Washington to unfreeze the frozen assets of Afghanistan, where US-led foreign forces completely withdrew last August, were organized by Hua Chunying, a spokesman for the Chinese Foreign Ministry. A year after the Taliban careered into power, Afghanistan's economy remains in crisis. Several dozen prominent US and international economists urged the United States Wednesday to hand over to Afghanistan $7 billion in central bank reserves frozen when the Taliban seized . Text size. 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