Afghanistan Peace CampaignMehrabi added that the members in charge of the fund elected two new board co-chairs for the trust fund in their third meeting on June 26.
Shah Mohammad Mehrabi, Central Bank supreme council member and board member of the Afghan Trust Fund in Switzerland, told TOLOnews that the fund has earned $128 million dollars so far.
Mehrabi added that the members in charge of the fund elected two new board co-chairs for the trust fund in their third meeting on June 26.
“With reserves of $3.5 billion plus $128 million in interest that belongs to Afghan people. The fund is dedicated to safeguarding, preserving and strategically dispersing funds to enhance financial stability in Afghanistan,” Mehrabi said.
According to some economists, the Afghanistan Trust Fund’s earnings should be used for maintaining the stability of Afghan currency and for the growth of the country’s economy.
“The main goal of the $3.5 billion in the Afghanistan Trust Fund is to provide aid to the Afghan government and to Afghanistan, and the money and its interest are both related to the people of Afghanistan,” said Sayed Masoud, an economist.
“The more foreign exchange reserves we have, the more the credibility of Afghanistan’s trade, especially in the international trade sector, will be increased. In addition, if these foreign exchange reserves are again accessible to the Central Bank of Afghanistan, they can be helpful in the country’s monetary policy and the strength of the currency,” said Sieyar Qureshi, another economist.
Meanwhile, the Ministry of Economy once again asked the US to unconditionally release Afghanistan’s frozen assets.
“The property of Afghanistan is the right of the Afghan people and should be released unconditionally and kept as financial support inside the country,” said Abdul Latif Nazari, deputy of the Ministry of Economy.
More than nine billion dollars of Afghanistan’s assets, of which seven billion are kept in US banks, have been frozen in foreign banks since the re-establishment of the Islamic Emirate in the nation.
In order to preserve these assets, Washington established a trust fund in Switzerland on the 24th of Sunbola 1401 (the solar year).