Connect with us

Latest News

China, U.S., Russia, Pakistan to hold talks on Afghanistan – China, U.S. say

Published

 on

(Last Updated On: March 30, 2022)

A top U.S. diplomat will meet this week in China to discuss issues in Afghanistan with his Chinese, Russian and Pakistani counterparts, the Chinese foreign ministry and the State Department said on Tuesday, Reuters reported.

The United States understands that China has invited Taliban representatives to the talks in Tunxi, a State Department spokesperson said.

Chinese special envoy for Afghanistan Yue Xiaoyong will host the meeting, said Wang Wenbin, a Chinese foreign ministry spokesman.

Russian Foreign Minister Sergei Lavrov has arrived in Tunxi for the talks, Interfax news agency cited a ministry spokeswoman as saying late on Tuesday. Lavrov has largely stayed in Russia since last month’s invasion of Ukraine but did travel to Turkey for talks with his counterpart from Kyiv, Reuters reported.

Tom West, the U.S. special representative for Afghanistan, will attend the talks of the so-called Extended Troika: the three world powers plus Pakistan, the State Department spokesperson said.

The talks come against the backdrop of Russia’s invasion of Ukraine and as Afghanistan suffers an economic and humanitarian crisis worsened by a financial aid cutoff following the Islamic Emirate (IE) takeover as U.S.-led troops departed in August, read the report.

They also come amid widespread condemnation of the IE’s U-turn last week on allowing girls to attend public high schools, which has sparked consternation among funders ahead of a key aid donors conference, a U.N. official said on Tuesday.

The retention of the ban prompted U.S. officials to cancel talks in Doha with the IE and a State Department warning that Washington saw the decision as “a potential turning point in our engagement” with the Islamic Emirate, Reuters reported.

The United States believes that it shares with other Extended Troika members an interest in the IE making good on commitments to form an inclusive government, cooperate on counterterrorism and rebuild the Afghan economy, the State Department spokesperson said.

According to Reuters the meeting takes place while foreign ministers from Afghanistan’s neighbors meet on Wednesday and Thursday in the eastern Chinese province of Anhui, Wang said.

That meeting will be chaired by Chinese Foreign Minister Wang Yi and attended by Afghan acting Foreign Minister Amir Khan Muttaqi, and diplomats from Pakistan, Iran, Russia, Tajikstan, Turkmenistan, Uzbekistan, Indonesia and Qatar, Reuters reported.

Latest News

Millions in US dollars smuggled into Afghanistan from Pakistan daily

Published

on

(Last Updated On: February 7, 2023)

Millions of dollars are being smuggled into Afghanistan from Pakistan every day, providing some support for the fragile economy.

Muhammad Zafar Paracha, general secretary of the Exchange Companies Association of Pakistan, told Bloomberg that traders and smugglers bring as much as $5 million across the border daily, which more than covers the as much as $17 million that Afghanistan’s central bank injects into the market each week.

The illicit cash flows show how the Islamic Emirate of Afghanistan (IEA) is evading sanctions after their 2021 takeover of the country, Bloomberg reported.

For Pakistan, however, it’s contributing to the depletion of foreign reserves and adding to the downward pressure on the rupee as the currency tumbles to record lows and the economy teeters on the edge of collapse.

“Currency is being smuggled without any doubt,” Paracha told Bloomberg. “This has become quite a lucrative business.”

“Afghanistan has about a $10 to $15 million requirement on a daily basis,” said Khurram Schehzad, chief executive officer at Alpha Beta Core Solutions Pvt Ltd., a financial consultancy in Karachi. Half of this is estimated to come from Pakistan, he said.

Da Afghanistan Bank, the country’s central bank, has enough dollars in reserve to support the economy, the bank’s spokesman Haseeb Noori told Bloomberg.

However, some of it comes from the UN, which has been providing about $40 million in humanitarian aid each week since late 2021.

This cash is transported by air to Kabul each week and much of it then needs to be converted into afghani after it arrives. So even though the aid doesn’t directly benefit the IEA, the dollars ultimately end up in the central bank’s coffers, Bloomberg reported, adding that the UN wasn’t immediately available to comment.

According to the report, the afghani has gained about 5.6% against the US dollar over the past year through Monday, one of the strongest performances of any currency in the world.

This while Pakistan’s rupee has lost about 37% against the US currency over the same period, one of the largest declines. It fell about 10% in one day in late January, the biggest drop in at least two decades, as the crisis-stricken government relaxed its grip over the exchange rate in a bid to win much-needed loans from the IMF, Bloomberg reported.

However, according to Bloomberg, the smuggling of US dollars into Afghanistan really took off in the middle of last year after Afghanistan increased coal exports to Pakistan.

In addition, it has been boosted by the IEA’s ban on the use of Pakistan’s rupee as legal tender in Afghanistan, which forces exporters to trade in dollars and bring the US currency back to the country, the officials told Bloomberg.

Continue Reading

Latest News

Otunbayeva meets acting head of TVET in Kabul

Published

on

(Last Updated On: February 6, 2023)

The head of the United Nations Assistance Mission in Afghanistan (UNAMA) emphasized the need for the inclusion of women and girls in vocational education on Monday in a meeting with Ghulam Haider Shahamat, acting head of Technical Vocational Education and Training (TVET).

In this meeting, Roza Otunbayeva said that vocational training is necessary for the economic development of Afghanistan and women and girls should be included.

Shahamat also expressed that technical and vocational education is effective for poverty alleviation and the growth of the country’s economy.

“The Technical Vocational Education and Training has 383 institutes and high schools all over Afghanistan, which operate in 250 districts and have 6850 staff,” said Shahamat.

Meanwhile, some experts say that Afghanistan needs to develop and create job opportunities for everyone, especially women and girls, and all international institutions play a constructive role for Afghanistan’s progress.

“All organizations which work under the framework of the United Nations can have positive roles in Afghanistan,” said Sarah Rahmani, women rights activist.

In this meeting, the head of the United Nations Cultural and Scientific Organization (UNESCO) was also present and emphasized on signing an agreement and creating a joint working group between both institutions.

Continue Reading

Latest News

Afghanistan’s central bank to auction $17 million this week

Published

on

(Last Updated On: February 6, 2023)

Da Afghanistan Bank (DAB) has announced that it will auction $17 million on Wednesday as part of the efforts to stabilize the value of the Afghan currency against foreign currencies.

In a series of tweets on Monday, the Central Bank of Afghanistan asked qualified private banks and exchange companies to participate in the auction.

The winners of the auction are obliged to settle their accounts by the end of the day. As per the announcement, partial settlement of transactions is not allowed and the winners of the auction are obliged to transfer the payable amount to the central bank in cash within a certain time.

This is the second time in a week the central bank is auctioning US dollars to keep the value of Afghani stable.

The exchange rate was 90 AFN to the US dollar on Monday, February 6, 2023. The central bank sold $16 million on Sunday.

Continue Reading

Trending

Copyright © 2022 Ariana News. All rights reserved!