Afghanistan

Freezing of Afghan assets large factor in economic collapse: China

Written by The Frontier Post

KABUL (TOLOnews): Speaking at a press conference, Wang Wenbin, deputy Director of the Foreign Ministry Information Department of China, said the US government’s decision to seize Afghanistan’s $7 billion of foreign exchange reserves “contributed mightily to Afghanistan’s economic collapse.”
The US government’s “decision to divide these funds in two is arbitrary and unjustified” and “undermines the recovery” of the Afghan economy, Wenbin said at the press conference.
“Nearly 20 years of ‘forced transformation’ imposed by the US on Afghanistan have not only failed to lift the Afghan people out of poverty and turbulence, but also worsened the crisis of human survival and national development,” Wenbin told reporters.
Meanwhile, officials of the Islamic Emirate said that negotiations are underway to release the Afghan assets of the Central Bank.
“The freezing of Afghan assets by the US is in contrast to international law. Diplomatic efforts are underway to unfreeze the assets of the Afghans,” said Abdul Latif Nazari, deputy Minister of Economy.
Analysts said that Afghanistan’s Central Bank assets can help the stability of the Afghan economy.
“This money is not for use and (is only for) economic stability. In fact, this ensures the stability of the cash,” said Rohullah Ahmadzai, an economist.
“The current worsened situation of Afghanistan is not only due to the freezing of Afghan assets, but it is also due to the COVID-19 crisis, drought and collapse of the republican system as well as the suspension of millions of dollars,” said Seyar Qureshi, an economist.

About the author

The Frontier Post