Da Afghanistan Bank calls US blocking of FX reserves unfair
13 Feb 2022
The Central Bank of Afghanistan (Da Afghanistan Bank) has called the US President Joe Biden’s decision to freeze half of Afghanistan’s foreign exchange reserves unjust.
The bank said in a statement that Afghanistan’s foreign exchange reserves will be used to implement monetary policy, facilitate trade and strengthen the country’s financial system, in accordance with law and regulations.
The statement stressed that Afghanistan’s reserves do not belong to any government or party and are primarily owned by the people. Therefore, the bank calls for revision of the decision.
Afghanistan’s foreign exchange reserves in the United States were frozen after Afghanistan’s fall to the Taliban.
In an executive order, US President Joe Biden has allocated $3.5 billion of Afghanistan’s $ 7 billion in foreign exchange reserves to the families of 9/11 victims. Under the decree, another $3.5 billion will be transferred to a trust fund to help Afghanistan.
The US president’s decision has also provoked reactions from human rights organizations.
Human Rights Watch has criticized Biden’s order, saying the president is seeking to seize Afghanistan’s assets.
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