IMF Executive Board completed first Review of the Extended Credit Facility Arrangement for Afghanistan

June 9, 2021 – The IMF issued a press release following its Executive Board meeting on review of the performance and achievements of Afghanistan in relation to the economic reforms arrangement “Public Credit Facility” and thereby approved of the performance of Afghanistan calling it successful.  Through achieving this goal, now Afghanistan will receive USD 149 million aid of the IMF immediately.

Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair of the IMF, who was chairing this meeting, said that in spite of combating the security challenges, political conflicts, and problems resulting from the Covid19 pandemic, Afghanistan remained stable in achieving the goals previously set by the economic program of the IMF and has managed the said program well.

Mr. Furusawa, while praising the economic reforms, management of the covide19 pandemic recovery programs and the stability of financial and banking system, said the IMF expects that Afghanistan will continue on the same course and its monetary policies should still be executed based on the stability of domestic prices.” He emphasized on further strengthening the regulatory and supervisory framework and deemed combating money laundering and terrorism financing crucial.

Mr. Ajmal Ahmady, the acting Governor of Da Afghanistan Bank, while referring to the successful review of Afghanistan by the IMF pertaining to financial and economic reforms, expressed his joy, and promised to put more efforts into achieving macroeconomic stability, financial and banking sector reforms, effective management of currency reserves, combating money laundering, financial crimes, terrorism financing, and administrative corruption, and strengthening the private sector for creating job opportunities and economic growth of Afghanistan. 

https://www.imf.org/en/News/Articles/2021/06/07/pr21162-afghanistan-first-review-ecf-arrangement