Afghanistan central bank’s $9 billion in reserves, most of which is held within the us , was frozen after the collapse of the previous Western-backed government.
Afghanistan was in peril of “a total breakdown of the economy and social order” without an infusion of cash and it could push millions more Afghans into poverty and hunger. UN special envoy Deborah Lyons on Thursday urged the planet to return together to stop the collapse of the Afghan economy and address fears that the Taliban’s Islamic state may spread to its neighbours.
Lyons said the worsening humanitarian crisis in Afghanistan must be addressed now, while warning there’s another “looming crisis” caused by the freezing of billions of dollars in Afghan assets. Lyons said the freeze will cause “a severe economic downturn that would throw more millions into poverty and hunger” and should spark an exodus of refugees and set the country back for generations.
“The economy must be allowed to breathe for a couple of more months, giving the Taliban an opportunity to demonstrate flexibility and a real will to try to to things differently this point , notably from a person’s rights, gender, and counter-terrorism perspective,” Lyons told the 15-member UN Security Council .
Lyons said ways must be found to supply humanitarian relief “on an enormous scale.” there’s also a requirement , she said, to quickly allow money to flow to Afghanistan to “prevent a complete breakdown of the economy and social order,” though while creating safeguards to make sure the cash isn’t misused by the Taliban authorities.
The Afghanistan central bank’s $9 billion in reserves, most of which is held within the us , was frozen after the collapse of the previous Western-backed government. The US Department of the Treasury said it’s not easing Taliban sanctions or loosening curbs on the Islamist group’s access to the worldwide economic system . Afghanistan was also to access about $450 million on August 23 from the International fund , but the IMF blocked the discharge due to a “lack of clarity” a few new government.
She also warned that the Taliban have already “visibly welcomed and sheltered” al Qaeda members, and Islamic State extremists remain active “and could gain strength.” She told the UN Security Council it’ll need to decide the way to engage with many of the 33 members of the Taliban government who are on the UN sanctions blacklist, including the prime minister, the 2 deputy prime ministers and therefore the secretary of state .
Russia’s UN ambassador, Vassily Nebenzia, told the council that humanitarian aid is critical and Afghanistan’s frozen assets should be released soon. “Afghanistan is on the verge of an economic collapse” which will create a bigger humanitarian crisis and exacerbate migration within the region and therefore the world, he said.
Deputy Chinese ambassador Geng Shuang also urged the assets’ release. “These assets belong to Afghanistan and will be used for Afghanistan, not as leverage for threat or restraints,” Geng said.