August 19, 2021 4:50 PM

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Afghanistan will no longer be able to access lender's resources: IMF

The International Monetary Fund (IMF) has said Afghanistan will no longer be able to access the lender's resources. The move follows the Taliban's takeover of the country last weekend.<br />''<br />''An IMF spokesperson said it was due to lack of clarity within the international community over recognising a government in Afghanistan. Resources of over 370 million $ from the IMF had been set to arrive on 23 August. These funds were part of a global IMF response to the economic crisis.<br />''<br />''Access to the IMF's reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, have also been blocked. SDRs are the IMF's unit of exchange based on sterling, dollars, euros, yen and yuan.<br />''<br />''<span style="color: #000000;">As is always the case, the IMF is guided by the views of the international community, the spokesperson added.</span><br />

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