The Kabul times, Afghanistan Trustable News Agency.
Economic

IEA says US must abandon its decision & release Afghanistan assets

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KABUL: Following US President Joe Biden’s decision on allocating $3.5 billion Afghanistan frozen money for the victims of 9/11 attacks, the Human Rights Watch and other international organizations have expressed concerns and said the frozen money belongs to the people of Afghanistan. The Biden’s decision has been considered against the international norms and UN conventions.
The Islamic Emirate of Afghanistan (IEA) also in a statement reacted over the US President Joe Biden’s decision on the frozen funds of Afghanistan’s central bank. The Islamic Emirate has called on him to abandon this course of action. The Islamic Emirate said that the funds were frozen against all international norms by the US, which now wants to “seize” them. The statement said that the 9/11 attacks have nothing to do with Afghans, and that seizing this money in relation to 9/11 is “blatant oppression” and against the Doha Agreement.
“In order for the US to save itself from the blame of the world and not to ruin its relations with Afghans, it must abandon its decision and release the assets of Afghans without any conditions. It also should refrain from such provocative acts which cause more mistrust between the two sides,” the statement said. The Islamic Emirate said that if the US does not abandon its current stance on the Afghan assets, the Islamic Emirate will inevitably reconsider its policy towards the US.
Foreign exchange reserves or international reserves are the reserves held by a country’s central bank that is primarily available to balance payments of the country, influence the foreign exchange rate of its currency, and to maintain confidence in financial markets. The reserves are cash as dollar and euro and other reserve assets such as gold.
Currently, Afghanistan Central Bank has a gross foreign exchange reserves of US $ 9.2 billion, of which 13 percent is gold (20 tons of gold, the monetary value of which is estimated to US $ 1.2 billion, based on current price of gold in the world market).
It is worth mentioning that after deduction of the bank’s foreign exchange debts, the country’s net foreign exchange reserves will reach about US $8 billion. Also, with the increase and decrease of gold prices in world markets, as well as the increase and decrease of interest rates, the volume of the country’s reserves can increase and decrease.
Recent decision on possible allocating the property and reserves of the people of Afghanistan who were not and are not legally taking part at any crime is against all norms and conventions of the United Nations although there is no legal decision of the US federal court in this regard.
Besides, the current limitations and somehow sanctions on Afghanistan banking system will drive the people of Afghanistan to complete poverty, while 90 percent of the people are suffering from nutrition problems; therefore, Biden’s decision and act in this regard can crush the Afghan economy by seizing billions in dollar from Afghanistan frozen money. Recent decision of US President Joe Biden on Afghanistan frozen money and seizing $3.5 billion of the money for the victims of 9/11 attacks has been met with national and international reactions.
Following the US President’s decision on seizing Afghanistan assets, China reacted and called the US decision to split Afghan reserves a “robbery” and urged Washington to return the money to Afghans. The US stole money from Afghans, Hua Chunying, spokesperson of China’s Foreign Ministry, said on Twitter. Hua reacted to the US President Joe Biden’s executive order last Friday splitting Afghanistan’s central bank’s $7 billion in assets, allocating half for humanitarian relief to the poverty-stricken country ravaged by 42 years of war, while keeping the other half available for compensation to victims of the 9/11 attacks. It is worth mentioning that other international organizations as Human Rights Watch, Organization of the Islamic Cooperation (OIC) and the Islamic Development Bank (IDB) are working and consulting with other international sides to find way for the release of Afghanistan frozen money as releasing the blocked reserves of Afghanistan can help resolve the country’s economic crisis.

Zarabi

 

 

 

 

 

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The Kabul times, Afghanistan Trustable News Agency.