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HomeAfghanistanStatement by Ministry of Foreign Affairs on reserves of the Central Bank...

Statement by Ministry of Foreign Affairs on reserves of the Central Bank of Afghanistan

The reserves of the Central Bank, like those of other states, are used for currency stabilization, strengthening financial systems and facilitating international transactions. These reserves can never be used for any disbursement purposes. Disbursing these reserves for other purposes without the express agreement of the Afghan people is a negative step against Afghan economic stability taken by the United States.
The Ministry of Foreign Affairs of the Islamic Emirate of Afghanistan deems recent decision by the United States of America to transfer a part (.5 billion) of the reserves of the Central Bank of Afghanistan to Switzerland and use it for targeted disbursement without any input by Afghanistan as unacceptable and a violation of international norms.
If the reserves are disbursed without taking into consideration legitimate demands of the Afghans, the Islamic Emirate will be forced to impose fines against, and ban activities of, all individuals, institutions and companies that facilitate this illegal venture and seek to misuse Central Bank reserves for humanitarian and other purposes.
America has taken this step without finalizing negotiations or reaching an agreement with us, showing ill faith to undermine economic stability and well-being of the Afghans. Despite commitments to and compliance with international financial practices by the Central Bank of Afghanistan, a decision has been made to forcibly transfer the wealth of the Afghan people to another country. We therefore call on all individuals and sides to condemn this illegal and oppressive action and support the Afghan people on this issue. Through this statement, we would like to present our objection to the countries and institutions involved in this issue and we will continue to monitor the situation through diplomatic channels.
The principle causes of the humanitarian crisis in Afghanistan are the twenty-year American war, endemic corruption by the US-backed administration, and, following the change in government, the imposition of sanctions against Afghanistan and its banking sector, which has prevented investors benefitting from newly created economic opportunities.
We again urge the United States of America to unfreeze the reserves and lift restrictions on financial systems of the Afghan people so that they may have access to banking systems and stabilize their economy.
The Islamic Emirate of Afghanistan would like to clarify that during bilateral talks with the United States, the independence and professionalism of the Central Bank, and openness to third party monitoring of AML/CFT regime was proven both in words and deeds.
The Islamic Emirate, as an accountable government to its people, expresses its explicit opposition to the specific iteration of this mechanism.

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