Bank concern about
economic situation

KABUL (Agencies): An official of the Islamic Emirate emphasizes that the discussion of humanitarian aid should be separate from political issues.
Abdul Latif Nazari, Deputy Minister of Economy of Afghanistan, said after World Bank reports. That the new study of the World Bank shows that Afghanistan is involved in a big economic challenge that has had a bad effect on the social life in this country.
Despite the fact that the United States, in collusion with a number of international institutions including the World Bank, has frozen billions of dollars of Afghanistan’s assets.
The World Bank has mentioned in its report that “commercial companies in Afghanistan are suffering from economic instability, international isolation, lack of financial facilities, lack of specific solutions and reduction of international aid.”
Melinda Goode, Director of the World Bank for Afghanistan, said, “The results of the new survey show the decline in the activity of the private sector in Afghanistan, while the private sector plays a key role in the revival of the country’s economy, but this sector is still affected and suffering from the reduction of international aid,”.
It should be said that in the previous regime, most of the domestic expenses were covered by international aid, including the World Bank, but with the complete cutoff of international aid and the freezing of Afghanistan’s assets, the people’s economy has gone bankrupt, and most of the women and children have suffered from the crisis.
Abdul Latif Nazari, the Deputy Minister of Economy, believes that the discussion of humanitarian aid should be separated from political issues.
Meanwhile, the countries that were financial supporters of the previous regime set conditions and terms for continuing their aid to Afghanistan.
Today, the people of Afghanistan, businessmen and the private sector have the most problems in the banking sector, people do not have access to their bank deposits and this has caused people to have liquidity problems, the World Bank says in this regard, “business activities after the month of August 2021 has been severely limited due to banking problems, reduced demand and rising transportation costs.
It must be said; Before the re-establishment of the Islamic Emirate, Afghanistan used to import up to 9 billion dollars to meet its basic needs, but now this figure is less than 5 billion dollars, which is also the reason for the problems in the banking system.
World Bank surveys show that many international banks have restricted their transactions with Afghan banks and international payment systems have been disrupted.
65% of companies have resorted to remittances for international payments, and 21% transfer their money abroad through official channels.
According to the World Bank report, before the second victory of the Islamic Emirate, 82% of companies have deposited cash in banks; But after August last year, this figure has decreased to 12%.
While banks play an important role in a country’s economy by providing services to people who want to save. The World Bank’s report tells some of the facts in Afghanistan’s troubled economy, but this bank has not said that what is their role in these disturbances, including by freezing Afghanistan’s assets in the country’s reconstruction fund?
On the other hand, the World Bank has limited itself to preparing a report and has not provided a way out of the problem. The solution to the problem is to release the frozen assets of Afghanistan so that the Afghan banks can find their monetary support again.
It is still necessary, as the Deputy Minister of Economy has said, to separate the discussion of humanitarian aid from political issues.