AFGHANISTAN

UN Can’t Spend Millions of Dollars Due to the Lack of Afghanis

Kabul – On Thursday, February 3, a senior UN official said that the organization has $135 million in a bank in Afghanistan, however, it cannot use it because Da Afghanistan Bank (DAB) has not been able to exchange the amount of money into afghanis.

Abdallah Al Dardari, head of the UN Development Program in Afghanistan, said the UN had taken millions of dollars to Afghanistan and deposited them in the Afghanistan International Bank (AIB). According to him, the Central Bank of the country had made a clear promise that the money would be automatically exchanged into afghanis.

However, Al Dardari, who spoke at the Global Sanctions Summit, said: “This has not happened,” according to Reuters.

Moreover, Al Dardari says the UN Development Program (UNDP) also has $30 million stuck in the International Bank, and it cannot convert it into afghanis. According to him, the program of the organization cannot be implemented without afghanis.

On the other hand, the Central Bank has not said anything about it yet.

The Taliban, known as the Islamic Emirate, seized power on August 15 and then banned the use of the dollar and any other foreign currency across the country.

Meanwhile, the decision was made to keep the afghani stable against the dollar. At the same time, it was reported that the banks’ dollar reserves were depleted, and the UN repeatedly transferred millions of dollars in cash to Afghanistan.

However, the lack of liquidity is a serious problem. Recently, after a rapid rise in the dollar, the afghani has risen again.

In the meantime, the aid groups and UN officials have said the United Nations and the World Bank are discussing possible exchange facilities.

Recently, the US has advised international banks to transfer humanitarian aid to Afghanistan without fear of sanctions.

The post UN Can’t Spend Millions of Dollars Due to the Lack of Afghanis appeared first on Hasht-e Subh Daily.



Source: Hasht-e Subh Daily

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