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The International Monetary Fund has stated that its participation with Afghanistan will be delayed until the international community has reached a consensus on the Taliban-led government’s legitimacy.
The IMF expressed grave worry over Afghanistan’s economic situation, urging the international community to take immediate action to avert a “looming humanitarian crisis” in the country.
At a news conference on Thursday, IMF spokesperson Gerry Rice said, “Our cooperation with Afghanistan has been paused until there is clarification within the international community on the government’s recognition.”
“We’re directed by the international community in terms of official recognition in Afghanistan, which we don’t have. As a result, the IMF programme there has been suspended; therefore, as we stated last month, the government cannot use IMF resources, SDRs, or other financial instruments at this time,” he said.
On August 15, the Taliban took control of Afghanistan, deposing the previous elected government, which was backed by the West. The Taliban’s provisional Cabinet is made up of high-profile members of the militant group.
Several world leaders have stated that they will withhold diplomatic recognition until the Taliban fulfils its commitments to the international community on matters such as an inclusive Afghan government and human rights.
Afghanistan was already suffering from chronic poverty and drought, but since the Taliban took power last month, the situation has worsened, with aid being disrupted, tens of thousands of people, including government and relief workers, fleeing the country, and much economic activity collapsing.
Foreign donors have halted funding to Afghanistan, claiming that payments are reliant on the new Taliban-led government’s behaviour, which has yet to be recognised by any country.
Ordinary bank transfers to Afghan individuals have also been halted. Ordinary Afghans are now dealing with skyrocketing inflation, increased poverty, cash shortages, a depreciating currency, and rising unemployment as a result of this.
Rice, on the other hand, stated that the IMF is ready to cooperate with the international community to call for immediate action to avert a humanitarian crisis.
The IMF is highly worried about Afghanistan’s challenging economic condition as well as the humanitarian situation.
“We have stated that the immediate priority should be on the humanitarian situation, aid to the Afghan people, permitting the flow of remittances and small-scale transactions, and providing assistance to nations hosting Afghan refugees,” he said.
The IMF’s warning comes after UN Secretary-General Antonio Guterres cautioned earlier that under Taliban rule, Afghanistan faced a “humanitarian catastrophe” and a complete breakdown of essential services.
Guterres said last week at an international humanitarian conference that Afghans are at “perhaps their most perilous hour.”
Donors contributed more than USD 1.1 billion to support Afghanistan at the meeting.
According to UN High Commissioner for Refugees Filippo Grandi, more than 18 million Afghans, or over half the population, required humanitarian assistance even before the Taliban took control last month.
In a country beset by drought and the COVID-19 pandemic, almost 3.5 million Afghans have already been displaced.
