IMF puts on hold funds to Afghanistan amid uncertainty

The International Monetary Fund (IMF) has put on hold funds to Afghanistan amid the rising uncertainty in the country. These developments came after IMF recently announced a 650 billion US Dollars Special Drawing Rights (SDR) allocation for member countries, but Afghanistan at the moment will not be allowed to access these funds.IMF Spokesman Gerry Rice said at a press conference that Afghanistan will not have access to this grant because of the uncertainty over Afghanistan's Government. As a result, the IMF programme there has been put on hold. Rice also said that IMF is deeply concerned about the difficult economic and humanitarian situation in Afghanistan. Moreover, the International Monetary Fund and World Bank have also stopped loans and the Financial Action Task Force warned its 39 member nations to block Taliban assets.

There is a constant fear that the worsening economic crisis could push millions of Afghan citizens into poverty and hunger. The United Nations Development Program (UNDP), said last week that 97% of the population is at risk of going below the poverty line. The UNDP said that 50% of the population already requires humanitarian support, adding, Afghanistan's real GDP could contract by 13.2%, which would cause an increase in the poverty rate of up to 25% points.