London Daily

Focus on the big picture.
Thursday, Jul 10, 2025

Taliban Cannot Access Afghanistan's Reserves: Central Bank Chief

Taliban Cannot Access Afghanistan's Reserves: Central Bank Chief

The Da Afghanistan Bank (DAB) had around $9 billion in reserves, but most of that is held in banks overseas, out of reach of the Taliban, DAB governor Ajmal Ahmady said on Twitter.

Despite its swift takeover of the government in Afghanistan, the Taliban will not have access to most of the nation's cash and gold stocks, the central bank chief said Wednesday.

The Da Afghanistan Bank (DAB) had around $9 billion in reserves, but most of that is held in banks overseas, out of reach of the Taliban, DAB governor Ajmal Ahmady said on Twitter.

"As per international standards, most assets are held in safe, liquid assets such as Treasuries and gold," said Ahmady, who fled the country on Sunday, fearing for his safety as the Taliban swept into the capital.

A US administration official told AFP on Monday that "any central bank assets the Afghan government have in the United States will not be made available to the Taliban."

Ahmady said the US Federal Reserve holds $7 billion of the country's reserves, including $1.2 billion in gold, while the rest is held in international accounts including the Basel-based Bank for International Settlements.

Amid reports the Taliban were quizzing central bank staff on the location of the assets, he said, "If this is true -- it is clear they urgently need to add an economist on their team."

He repeated that Washington on Friday cut off cash shipments to the country as the security situation deteriorated, which may have fueled reports the Taliban stole the reserves since the country's banks could not return dollars to account holders.

"Please note that in no way were Afghanistan's international reserves ever compromised," and are held in accounts that are "easily audited," Ahmady said.

No SDRs for Kabul?


In addition to freezing assets, the United States could also block aid to Afghanistan from multilateral lenders like the IMF and World Bank, as it has with other regimes it does not recognize, such as Venezuela.

The IMF is set to distribute 650 billion in Special Drawing Rights (SDR) on August 23 to all eligible members, of which Afghanistan's share was valued at about $340 million, Ahmady said.

"Not sure if that allocation will now proceed with respect to Afghanistan," he tweeted.

The IMF has not responded to AFP's request for comment on the country's status.

However, a person familiar with the process said the management of the Washington-based crisis lender believes aid could be halted if a critical mass of member governments fail to recognize the new regime.

But there is still significant uncertainty about the status.

The IMF in June released the latest installment of a $370 million loan to Afghanistan approved in November to help support the economy amid the Covid-19 pandemic.

The World Bank has more than two dozen development projects ongoing in the country and has provided $5.3 billion since 2002, mostly in grants.

Meanwhile, Western Union announced Wednesday it was temporarily cutting off wire transfers to the country -- another vital source of cash for the people.

Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×