Economists from all over the world have asked Vice President Biden to release funds from the Afghan Central Bank.

Economists demanded that the United States government

In a letter that was delivered to Vice President Joe Biden on Wednesday, more than 70 economists and other experts, including Joseph Stiglitz, who was awarded the Nobel Prize in Economics, demanded that the United States government and other nations release the assets of Afghanistan’s central bank.

Despite criticism of how the ruling Taliban treats women and members of minority groups, the letter stated that foreign capital needed to return the approximately $9 billion in Afghan central bank assets to Da Afghanistan Bank (DAB) in order to allow the economy to function.

According to what was written in the letter, “the people of Afghanistan have been made to suffer doubly for a government that they did not choose.” “We urge you to allow DAB to reclaim its international reserves in order to mitigate the humanitarian crisis and set the Afghan economy on a path toward recovery,” we say. “in order to set the Afghan economy on a path toward recovery.”

The letter was also addressed to Janet Yellen, who serves as the Secretary of the United States Treasury. It was signed by 71 economists and academic experts, the majority of whom are based in the United States, but some also hail from Germany, India, and the United Kingdom.

Minister Of Finance For Greece

Yanis Varoufakis, a former minister of finance for Greece, was one of the signatories, along with Joseph Stiglitz, a professor at Columbia University who was awarded the Nobel Prize in Economics in 2001. Stiglitz also serves on the advisory board of the Center for Economic and Policy Research, a think tank in Washington, DC, that was responsible for organising the letter.

The country’s economy has been in a deep crisis ever since the Taliban took control of Afghanistan almost exactly one year ago, as foreign forces withdrew. The abrupt cut in aid and other factors, such as inflation driven by conflict in Ukraine, have contributed, but, according to economists, the country is severely hampered by the inability of its central bank to function without access to its reserves. Other factors, such as inflation driven by the conflict in Ukraine, have also contributed.

Depreciation Of The Afghan Currency

This has led to a significant depreciation of the Afghan currency, which has driven up the cost of imported goods. It has also brought the country’s banking system dangerously close to collapse, which has made it difficult for Afghan citizens to access their savings or receive their salaries.

The Afghan economy has predictably collapsed, as stated in the letter. “Without access to its foreign reserves, the central bank of Afghanistan is unable to carry out its normal, essential functions,” the letter said.

They have condemned the Taliban for imposing severe restrictions on women’s freedoms in the past year and for allegedly carrying out human rights abuses, including vendettas against former enemies. Washington and other capitals say they want to find a way to release the funds for the benefit of the Afghan people while preventing those funds from benefiting the Taliban.

Allegations Of Human Rights Violations

The Taliban have stated that they will investigate individual allegations of human rights violations and that they will respect rights in accordance with their interpretation of Islamic law.

Both parties are currently engaged in in-depth discussions over possible plans to release the assets held by the central bank, of which approximately $7 billion are held in the United States. This is happening despite the fact that the two sides have positions that couldn’t be further apart. Because it is currently the subject of a legal battle relating to the 9/11 attacks, approximately half of that amount has been set aside for the time being.

The United States continues to have objections regarding the Taliban’s appointment of a deputy governor of the central bank who is subject to US sanctions. This is one of the key sticking points in the ongoing banking negotiations.

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