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IEA bans use of foreign currencies in bid to stabilize Afghan currency
Islamic Emirate of Afghanistan (IEA) officials on Tuesday banned the use of foreign currencies for commercial transactions in the country in a bid to stabilize the plummeting national currency, the Afghani (AFN).
Mawlawi Abdul Salam Hanafi, deputy prime minister, who is heading up a commission to curb the currency’s freefall, said at a press conference that the AFN would stabilize on the back of steps being taken.
“We have ordered clerics, local officials and security forces to prevent the use of foreign currencies [being used] in Afghanistan,” said Hanafi.
Mawlawi Hanafi warned that the authorities would take serious action against anyone found to be using, hoarding or smuggling foreign currencies.
This comes as Afghanistan grapples with an economic crisis following the sudden collapse of the previous government, the suspension of foreign donor money and the freezing of foreign assets.
Officials have however said there has been an increase in national revenue generated and that serious efforts are being made to stabilize the economy.
Mullah Abdul Ghani Baradar, first deputy prime minister of Afghanistan, meanwhile said while visiting an expo of domestic products in Kabul city that the humanitarian crisis, particularly the lack of food, will create challenges for the region and the world.
Mullah Baradar also criticized the international community for its silence over the issue of Afghanistan’s frozen assets.
“Why is the world silent about what the US is doing? The money did not belong to [former president] Ashraf Ghani; it belongs to the nation. Why is the US doing this? Why is the world silent? It is the nation’s money and it should be returned,” he said.
Regarding the issue of not recognizing the IEA as Afghanistan’s government, Mullah Baradar said the world is pursuing its own goals but that the IEA is committed to issues of national interest.
“We call on the international community to recognize the IEA and release Afghanistan’s frozen assets to solve the problems,” said Mullah Baradar.
The White House said on Monday that they are not yet willing to release Afghanistan’s frozen assets, which amount to over $9 billion.
Zalmay Khalilzad, the former US special representative for Afghanistan, has questioned Pakistan’s commitment to the welfare of the Afghan people, citing Islamabad’s policies over the past three decades.
Khalilzad said in a post on X that Pakistani Prime Minister Shehbaz Sharif advocated for the rights of Afghan women during his speech at the UN General Assembly on Friday.
Sharif said: “Fundamental rights of the Afghan people — especially women and girls — must be respected.”
Responding to the remarks, Khalilzad said Pakistan’s policies over the past 30 years raise questions about Sharif’s commitment to Afghan welfare.
He cited Pakistan’s support for militant groups against US forces and what he described as the poor treatment of Afghan refugees as examples.
Khalilzad also said Afghanistan and Pakistan need and should have much better relations, adding that “a reset is necessary.”
India’s Foreign Secretary Vikram Misri met with the UN Secretary-General’s Special Representative for Afghanistan, Rabab Fatima, on the sidelines of the United Nations General Assembly.
Indian Foreign Ministry spokesperson Randhir Jaiswal said in a post on X that Misri underscored the need to keep addressing the humanitarian needs of the Afghan people as a priority.
Misri also appreciated the role of the UN Assistance Mission in Afghanistan (UNAMA) and reaffirmed India’s continued cooperation with the United Nations on Afghanistan.
The meeting comes as Afghanistan continues to face humanitarian and economic challenges, with international agencies warning of significant needs among the Afghan population.
Kazakhstan’s Foreign Minister Mukhtar Tileuberdi has called for pragmatic and coordinated international engagement with Afghanistan, saying the country’s long-term stability is closely linked to the security and sustainable development of Central Asia.
Speaking during the general debate of the 81st session of the United Nations General Assembly in New York on Friday, Tileuberdi said humanitarian assistance to Afghanistan remains essential but alone cannot break the cycle of poverty, displacement and dependency.
He said Kazakhstan supports a “pragmatic, coordinated and step-by-step” approach to international engagement with Afghanistan, with the United Nations playing a central role.
Tileuberdi also said Kazakhstan is working with the UN to operationalize the United Nations Regional Centre for the Sustainable Development Goals for Central Asia and Afghanistan in Almaty.
He said the success of the centre should be measured by the results and assistance it delivers to the region.
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