Pakistan calls for lifting of ‘unjustified freeze’ on Afghan assets

Pakistan’s permanent representative to the United Nations, Munir Akram speaks at UN Security Council on November 16, 2021. (@PakistanPR_UN)

• US blocked Afghanistan’s access to more than $10 billion in central bank assets after the Taliban takeover in August
• Afghanistan’s government pleaded with US Congress on Wednesday to release the Afghan assets

ISLAMABAD: Pakistan’s permanent representative to the United Nations called for the lifting the “unjustified freeze” on Afghanistan’s foreign exchange reserves during a UN Security Council meeting on Thursday.
Afghanistan plunged into economic crisis when its Western-backed administration collapsed in mid-August as the Taliban took control. The takeover triggered the suspension of billions of dollars in international assistance to the country’s aid-dependent economy, while the US blocked Kabul’s access to more than $10 billion in Afghan central bank assets.
While the UN last month announced setting up a special trust fund to provide urgently needed cash to Afghans, Islamabad’s UN envoy, Ambassador Munir Akram told the UN Security Council more help was needed to avoid a humanitarian disaster.
“We trust that this and similar mechanisms will be stepped up quickly to scale up the flow of money and stabilize the Afghan economy, and that the unjustified freeze of Afghanistan’s assets will be lifted soon,” Akram said, adding that cash was needed to revive Afghanistan’s economy, pay salaries, restore small businesses and to revive the country’s banking system.
The immediate challenge in Afghanistan, he said, is the dire humanitarian and economic crisis, as half the population — 28 million people — face acute food insecurity, which will be exacerbated by the coming harsh winter conditions.
“The consequences of major humanitarian crisis and economic collapse in Afghanistan will be horrendous,” Akram said.
The Pakistani envoy’s plea came after Afghanistan’s government called on the US Congress to release the Afghan assets.
In an open letter on Congress members, Taliban Foreign Minister Amir Khan Muttaqi said on Wednesday said the Taliban administration had managed to bring political stability and security to Afghanistan since August but the economic situation is worsening humanitarian challenges.
He said the biggest challenge of Afghans was currently financial insecurity and “the roots of this concern lead back to the freezing of assets of our people by the American government.”