Freeing up cash may not solve all of Afghanistan's financial troubles, but it would provide relief for a country hit by a slump in foreign aid, persistent drought, and a deadly earthquake.
“No agreement has been reached yet,” said Shah Mehrabi, an Afghan-American economics professor who is on the Afghan central bank’s supreme council.
Some $9 billion in reserves have been held outside Afghanistan, including $7 billion in the United States, since the Taliban overran Kabul last August as US-led forces withdrew after 20 years of fighting the militants. Experts cautioned that releasing funds would bring only temporary relief and new revenue streams were needed to replace direct foreign aid that financed 70% of the government budget before it was halted after the Taliban takeover.
“It is a positive move overall,” that the Taliban did not reject the US proposal, said Mehrabi, who added that he had not seen the Taliban counter-offer.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US, Taliban make progress on Afghan reserves, but big gaps remainU.S. and Taliban officials have exchanged proposals for the release of billions of dollars from Afghan central bank reserves held abroad into a trust fund, giving a hint of progress in efforts to ease Afghanistan’s economic crisis.
Read more »
US, Taliban make progress on Afghan reserves, but big gaps remainU.S. and Taliban officials have exchanged proposals for the release of billions of dollars from Afghan central bank reserves held abroad into a trust fund, giving a hint of progress in efforts to ease Afghanistan’s economic crisis.
Read more »
Hontiveros opposes mandatory ROTC: Youth can show patriotism in other waysSenator Risa Hontiveros maintained her opposition to making the Reserve Officer Training Corps (ROTC) program mandatory for students, saying the youth can show their patriotism in other ways.
Read more »
Fed not adequately prepared to thwart Chinese info gathering -reportThe Federal Reserve does not have adequate systems to counter a “malign” effort by China to gather inside information on the U.S. economy and monetary policy, according to a report by the Republican staff of the Senate Homeland Security Committee.
Read more »
Stock-Market Outlook | VG CabuagLast week SHARE prices gained last week as investors accumulate assets ahead of the US Federal Reserve meeting this week and more local earnings results for the second quarter of the year. The benchmark Philippine Stock Exchange index gained 68.13 points to close at 6,263.39 points. The main index made…
Read more »
Omicron BA.5 makes up 82% of COVID variants in US — CDCThe BA.5 subvariant of Omicron was estimated to make up 81.9% of the circulating coronavirus variants in the United States for the week ended July 23, the US Centers for Disease Control and Prevention (CDC) said on Tuesday.
Read more »