Recent World Bank Report: “Inflation decline, Afghani appreciation against other currencies, domestic price stability and improvement of the banking sector of Afghanistan”

Mpoya
Tue, Aug 01 2023 4:32 PM
Recent World Bank Report: “Inflation decline, Afghani appreciation against other currencies, domestic price stability and improvement of the banking sector of Afghanistan”

The World Bank (WB) has recently published a report on July 31, 2023, highlighted that the economy of Afghanistan has been improved. The report illustrates that the inflation rate has been dropped compared to the previous months and Afghani appreciated against other currencies. As a result, the primary objective of Da Afghanistan Bank, which is domestic price stability, has been achieved and managed properly. It also revealed that the banking sector of the country has been improved, owing to implementation of effective and prudential policies of Da Afghanistan Bank. At the same time, WB has also pointed out to the increase in the country domestic products, creation of employment opportunities, timely payment of the rights and privileges of the civil servants, quality health services delivery, rise in the exports and national income of Afghanistan and providing appropriate business opportunities. It has to be mentioned that releasing likewise reports, which are naturally based on expert evaluations and analyses, demonstrates that Afghanistan is taking fast steps in a positive direction and that economic affairs are managed properly. DAB, while welcoming all positive points based on objective facts of this report, is confident that positive interaction of international community with Afghanistan, removing the current restrictions on the banking sector and unfreezing foreign exchange reserves of Afghanistan is leading to further economic growth and will be pushed towards further strengthening and stability. In reference to the WB report, DAB leadership assures that the bank is committed to maintaining the stability of financial and banking sector, given the best regulatory and supervisory practices and strategies and continues to take effective and useful measures for controlling inflation and maintaining Afghani stability, until the country flourishes further.

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