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US and IEA make progress on Afghan reserves
US and Islamic Emirate of Afghanistan (IEA) officials have exchanged proposals for the release of billions of dollars from Afghan central bank reserves held abroad into a trust fund, three sources familiar with the talks told Reuters.
Significant differences between the sides remain, however, according to two of the sources, including the IEA’s refusal to replace the bank’s top political appointees, one of whom is under US sanctions as are several of the movement’s leaders.
Some experts said such a move would help restore confidence in the institution by insulating it from interference by the IEA that took power a year ago but which foreign governments do not recognise.
While the IEA do not reject the concept of a trust fund, they oppose a US proposal for third-party control of the fund that would hold and disburse returned reserves, said an IEA source who spoke on condition of anonymity, Reuters reported.
The United States has been in talks with Switzerland and other parties on the creation of a mechanism that would include the trust fund, disbursements from which would be decided with the help of an international board, according to a US source who also declined to be named.
A possible model could be the Afghanistan Reconstruction Trust Fund, a World Bank-administered fund created to get donations of foreign development assistance to Kabul, the US source added.
“No agreement has been reached yet,” said Shah Mehrabi, an Afghan-American economics professor who is on the Afghan central bank’s supreme council, Reuters reported.
Some $9 billion in reserves have been held outside Afghanistan, including $7 billion in the US.
Rana Sanaullah, Pakistan Prime Minister’s Special Assistant on Political Affairs, says Islamabad does not seek to impose war on Afghanistan or occupy any part of its territory.
Speaking at a press conference on Saturday, he stated that Pakistan’s primary expectation is for Afghanistan to prevent militant groups from using its soil to launch attacks against Pakistan. He warned that failure to address this concern could lead to the continuation of Pakistani operations targeting such groups.
Pakistani officials have long maintained that militant attacks in Pakistan are planned from Afghan territory. However, the Islamic Emirate has rejected the claim, insisting that Afghanistan is not responsible for what it describes as Pakistan’s “security failures.”
Afghanistan has once again been ranked the least happy country in the world, according to the latest edition of the World Happiness Report.
The report, which measures people’s overall life satisfaction across 147 countries, placed Afghanistan at the bottom of the global ranking for another year, with a score 1.4 out of 10. Researchers assess factors such as income levels, social support, freedom to make life choices, perceptions of corruption, and overall quality of life.
For the ninth consecutive year, Finland ranked as the world’s happiest country, with a score of 7.7. Iceland and Denmark followed it, as Nordic nations continued to dominate the top of the index.
A notable development came from Costa Rica, which climbed to fourth place — the highest ranking ever recorded for a Latin American country.
Other countries with low rankings included Sierra Leone, Malawi, Zimbabwe and Botswana.
Malaysian Prime Minister Anwar Ibrahim has welcomed the temporary ceasefire between Pakistan and Afghanistan announced in connection with the Eid-ul-Fitr celebrations, calling for continued efforts to reduce tensions and achieve lasting peace.
Anwar shared the message during a telephone conversation with his Pakistani counterpart, Shehbaz Sharif. In a Facebook post, Anwar emphasized the importance of dialogue and de-escalation, while also expressing concern over rising tensions in the Middle East, particularly involving Iran, and urging all parties to prioritize peaceful solutions.
Pakistan said it had temporarily suspended military operations in Afghanistan at the request of Saudi Arabia, Qatar, and Turkey. Afghan authorities likewise announced a halt to operations during Eid, citing goodwill and similar requests from regional partners.
The ceasefire follows weeks of heightened tensions between Afghanistan and Pakistan, including Durand Line clashes and airstrikes.
Separately, Turkey President Recep Tayyip Erdogan in a phone call discussed regional developments with Pakistani Prime Minister Shehbaz Sharif, reaffirming Turkey’s commitment to peace and stability and stressing continued cooperation for long-term security.
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