China, Iran Step in to Aid Afghanistan as US Freezes Kabul’s Foreign Assets After Taliban Takeover

The runaway governor of Afghanistan’s central bank has warned of risks of inflation on food and other items as well as currency depreciation in the country owing to the US decision to freeze $9 billion worth of Kabul’s foreign assets and suspension of dollar payments to the nation. The American decision comes after the Taliban’s* takeover of Kabul.

China has said that it “stands ready” to continue to play an active role in Afghanistan’s reconstruction efforts, in the wake of the United States freezing more than $9 billion of Kabul’s foreign assets at the New York-based Federal Reserve Bank and other financial institutions after the takeover of the nation’s capital by the Taliban last week.

Wang was responding to a question about whether China “plans to provide financing” to the Taliban government in Afghanistan.

The Chinese official also hit out at the US for not honouring its “pledge to assist Afghanistan in areas including development and reconstruction, and humanitarian assistance”.

Beijing’s remarks come against the backdrop of the US Treasury Department’s decision to freeze nearly $9 billion in assets belonging to Da Afghan Bank (DAB), the nation’s central bank.

Ajmal Ahmady, the runaway governor of Afghanistan’s central bank who fled the nation after the Taliban takeover, says the Federal Reserve Bank holds nearly $7 billion of the nation’s overall foreign reserves, including $3.1 billion in US bills and bonds, gold and cash accounts.

Nearly $700 million of…

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