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International economists ask Biden to release Afghan central bank funds

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(Last Updated On: August 11, 2022)

More than 70 economists and experts, including Nobel Laureate Joseph Stiglitz, called for Washington and other nations to release Afghanistan’s central bank assets in a letter sent to U.S. President Joe Biden on Wednesday.

The letter said foreign capitals needed to return the roughly $9 billion in Afghan central bank assets to Da Afghanistan Bank (DAB) to allow the economy to function, despite criticism of behaviour by the ruling IEA towards women and minorities, Reuters reported.

“The people of Afghanistan have been made to suffer doubly for a government they did not choose,” the letter said. “In order to mitigate the humanitarian crisis and set the Afghan economy on a path toward recovery, we urge you to allow DAB to reclaim its international reserves.”

The letter, also addressed to U.S. Treasury Secretary Janet Yellen, was signed by 71 economists and academic experts, many based in the United States as well as Germany, India and the United Kingdom.

Among them was former Greek finance minister Yanis Varoufakis and Stiglitz, a Columbia University professor who received the Nobel Prize in economics in 2001 and is on the advisory board to the Washington-based think tank the Center for Economic and Policy Research, which organised the letter.

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Otunbayeva meets acting head of TVET in Kabul

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(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.

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

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(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.

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Russia has no plans to close its embassy in Afghanistan, says envoy

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(Last Updated On: February 6, 2023)

Russia has no plans to close its diplomatic mission in Kabul, Director of the Russian Foreign Ministry’s Second Asian Department Zamir Kabulov told TASS on Monday.

Earlier, the Al-Arabiya TV channel reported that the authorities of several Arab and Western countries decided to close their diplomatic missions in Kabul because of security threats.

“Such thoughts have not even occurred,” Kabulov said, when asked whether Russia had such plans.

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