Afghanistan Peace CampaignHe stressed that any use of the fund’s assets would only be possible under specific legal conditions and after the necessary safeguards are in place.
The Afghan Fund has earned more than $661 million in profits since its establishment, and its total assets had reached $4.19 billion as of Asad 9 of the current solar year (July 31).
Shah Mohammad Mehrabi, a member of the Board of Trustees of the Afghan Fund, says the fund was established to safeguard Afghanistan’s foreign exchange reserves and, under specific conditions, support exchange-rate and price stability.
He added that the fund was not created to finance government expenditures, provide humanitarian assistance, or make direct payments to organizations. Rather, its primary purpose is to preserve the foreign exchange reserves and increase their value through prudent management.
Mehrabi said: “As of Asad 9 this year, the fund’s assets had reached $4.19 billion, and it has earned more than $661 million in profits since its establishment. This growth, without drawing down the principal, shows that the fund’s main objective is to preserve and increase the value of Afghanistan’s foreign exchange reserves, not to spend them.”
Mehrabi added that given Afghanistan’s dependence on imports and the importance of the afghani’s exchange rate against the US dollar, preserving foreign exchange reserves can help stabilize the national currency and prevent sharp price fluctuations.
He stressed that any use of the fund’s assets would only be possible under specific legal conditions and after the necessary safeguards are in place.
Mehrabi said: “This fund was not created for day-to-day expenditures. Its role is to preserve foreign exchange reserves, manage financial risks, and keep these assets available for a time when Afghanistan can once again make normal use of its central bank reserves.”
Abdul Basir Taraki, an economic analyst, said: “If this money has been frozen for five years and remains unavailable to the Islamic Emirate, there is no doubt that if this continues, the economic situation of the people will worsen day by day.”
Meanwhile, the Islamic Emirate is calling on the United States to fully release Afghanistan’s assets.
Abdul Latif Nazari, Professional Deputy Minister of Economy, said: “More than $8 billion in assets belonging to the people of Afghanistan have been frozen by the United States. We want these assets to be released as soon as possible and made available to the Afghan people. The continuation of this situation is contrary to international law and the principles of international relations.”
Azizurrahman Rahmani, an economic analyst, said: “The more of these assets that are returned to our country and can be used by the government in the economy, the greater the positive impact they can have on Afghanistan’s overall economy, including its GDP.”
The Afghan Fund was established in Switzerland on September 14, 2022, with an initial $3.5 billion in reserves from Afghanistan’s central bank.