Russian envoy stresses end to free fall of the afghani
KABUL (Pajhwok): With Afghanistan’s assets frozen by the US and its allies, the afghani may continue to be in free fall, warns a Russian diplomat.
Russian presidential envoy for Afghanistan Zamir Kabulov said: “Our Western colleagues need to somehow solve this issue now.”
Speaking to the Rossiya-24 TV channel, he said: “I don’t quite understand the rationale behind this move. Money tends to devalue, when not in circulation.”
Afghanistan was faced with cash shortages, not just of the US dollar, but of the national currency as well, Kabulov added.
Big firms, both domestic and international, had amassed huge amounts of the national currency in their vaults, the envoy alleged.
“Apparently, they don’t know how to use it, but there is a lack of cash in circulation,” the envoy continued..
In mid-August, the Biden administration froze the Afghan central bank’s reserves to deny the Taliban access to the funds worth more than nine billion dollars.