The International Monetary Fund (IMF) has put on hold funds meant for Afghanistan due to political uncertainty in the war-ravaged country. The IMF had recently announced a $650 billion special drawing rights allocation (SDR) for its member nations.
According to the reports, the SDR allocation was made on August 23 and it will benefit all IMF member nations and will address the long-term global need for reserves and foster the resilience and stability of the world economy. Of the total allocation, $275 billion will be provided to developing and low-income nations. But Afghanistan is not allowed to access these funds now.
While addressing a press conference IMF spokesperson Gerry Rice stated that the financial institution’s engagement with Afghanistan has been suspended until there is clarity within the international community on recognising the government. He also expressed his concerns over the economic and humanitarian crisis in Afghanistan, Rice assured that the IMF is ready to work with the international community to advocate for urgent actions to stall the humanitarian crisis.
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