Connect with us

Business

World Bank says donors approve transfer of $280 million dollars to help Afghanistan

Published

on

(Last Updated On: )

The World Bank on Friday confirmed that donors have approved the transfer of 280 million U.S. dollars to UNICEF and the World Food Programme (WFP) from the World Bank-administered Afghanistan Reconstruction Trust Fund (ARTF), Reuters reported.

The aid aims to help Afghanistan respond to its humanitarian crisis, while bypassing the government formed by the Islamic Emirate or Afghanistan [IEA].

The IEA says the international community has not been realistic and must avoid mistakes of the past, Reuters reported.

The Islamic government is independent, responsible, committed to its pledges, Inamullah Samangani, deputy government spokesman said in an interview with China Global Television Network (CGTN).

It’s a golden opportunity for the international community, particularly the powerful countries of the world, to interact with today’s Afghanistan and open a new chapter of relations that could benefit both Afghanistan and the international community, he said.

Soon after the IEA took power on August 15, the U.S. blocked access to 9.5 billion dollars in Afghanistan’s central bank reserves held in the U.S.

International Monetary Fund (IMF) paused the release of more than 400 million dollars in funds, citing “a lack of clarity within the international community regarding recognition of a government in Afghanistan.”

According to the report the World Bank also stopped disbursing aid money reserved for the country.

“We request the international community to put pressure on the US to unfreeze our money. This money belongs to the people,” said Mohamad Mangal, a Kabul resident.

“As a human being, I urge the international community to assist people of Afghanistan, based on the values of humanity,” said Sher Agha, another resident.

According to the Reuters Afghan experts welcome the aid but insist that it is not enough to help millions of people in need.

“As much as this money is helpful, it’s not enough unless the international community engages with the Taliban [IEA], we find a working relationship, and the federal reserves of Afghanistan can be released. This is never going to be enough,” said Obaidullah Baheer, a civil society activist.

“Economic development is not possible without money. So it is my request the world community, World Bank, IMF and US government and European Union to come forward and help Afghanistan to ease the economic crisis,” said Alam Khan Hamdard, an economic expert.

Many experts believe that this winter will be the harshest of all times for millions of Afghans, Reuters reported.

Business

Acting Minister of Economy meets with Afghan businessmen abroad

Published

on

(Last Updated On: )

Qari Din Mohammad Haneef, Acting Minister Economy, has met with a number of Afghan businessmen and experts living in Germany, France, Italy, Britain, Canada and the United States.

In a recent meeting, the economic and social situation of the country was discussed.

The Afghan businessmen and experts expressed their satisfaction with the security situation and considered the economic programs of the IEA important in improving the economic situation.

The Acting Minister of Economy, explaining the opportunities and facilities available to attract investment in various sectors, called on all Afghan businessmen living abroad to use these opportunities and invest within the country in order to improve the economic situation and create job opportunities.

 

 

Continue Reading

Business

Gold bolts past $3,200 on dollar slide, safe-haven flows

Published

on

(Last Updated On: )

Gold prices breached the key $3,200/oz level for the first time on Friday, fuelled by a weaker dollar and an escalating trade war that sent investors rushing toward safe-haven assets.

Spot gold was up 1.4% at $3,217.78 an ounce as of 0350 GMT. Bullion scaled an all-time peak of $3,219.84 earlier in the session, and has gained almost 6% this week, Reuters reported.

U.S. gold futures climbed 1.9% to $3,237.50.

“The rapid weakening of the U.S. dollar seems to be the main driver of gold’s rebound at the moment. That seems to reflect an ongoing exodus from USD-based assets, with stocks and bonds’ selloff amid tariff policy uncertainty,” said Ilya Spivak, head of global macro at Tastylive.

The dollar was down nearly 1% against its major peers, making greenback-priced bullion cheaper for overseas buyers.

Major stock indexes also fell after U.S. President Donald Trump ratcheted up tariffs on Chinese imports to 145%, but hit a 90-day pause on previously announced tariffs for dozens of countries.

China has been matching Trump’s tariff hikes, sparking fears that Beijing could push duties on the U.S. beyond the current 84%.

“$3,500 is the next round number people will be looking at. I suspect we won’t get there immediately or without bumps along the way,” Capital.com’s financial market analyst Kyle Rodda said.

Apart from tariffs, central bank demand, expectations of interest rate cuts by the Federal Reserve, geopolitical instability in the Middle East and Europe, and increased flows into gold-backed exchange-traded funds also fuelled the metal’s rally this year.

U.S. consumer prices fell unexpectedly in March but inflation risks are tilted to the upside, data showed.

Traders now bet that the Fed will resume cutting rates in June and probably reduce by a full percentage point by the end of 2025.

Spot silver added 0.3% to $31.29 an ounce, while platinum dipped 0.1% to $936.85. Palladium gained 0.8% to $916.18.

Continue Reading

Business

Russia, Uzbekistan to draft feasibility study for Trans-Afghan Railway project

A discussion session will be held within the framework of the Russia-Islamic World Forum in Kazan in May, bringing together key stakeholders

Published

on

(Last Updated On: )

Russia and Uzbekistan design organizations will work together this year to conduct the Trans-Afghan Railway project’s feasibility study, Trend news agency reported. 

According to a statement issued by Russia’s Ministry of Transport on Tuesday, Russian and Uzbek designers “will ensure the preparation of sections of the feasibility study for the project to build the Trans-Afghan Railway along the agreed routes, including in terms of determining the forecast for freight traffic volumes and economic efficiency.”

The ministry said two routes have been identified. These are: Mazar-e-Sharif – Herat – Dilaram – Kandahar – Chaman; and the other is Termez – Naibabad – Logar – Kharlachi.

The statement noted that the first session to discuss the project will be held within the framework of the Russia-Islamic World Forum in Kazan in May. A delegation from Afghanistan will attend, along with representatives from Pakistan Railways. 

 

Continue Reading

Trending

Copyright © 2025 Ariana News. All rights reserved!