IMF blocks Afghanistan's access to emergency reserves worth $460 mn

IMF has announced to block Afghanistan's access to the emergency reserve worth $460 mn as the Taliban's control over the country has drawn uncertainty for the country's future, media report said

The International Monetary Fund (IMF) has announced to block Afghanistan's access to the emergency reserve worth USD 460 million as the Taliban's control over the country has drawn uncertainty for the country's future, a media report said.

The decision followed pressure from the Biden administration to ensure that the reserves did not reach the Taliban, New York Times reported.

On Tuesday, the Biden administration also froze about USD 9.5 billion of Afghan reserves to keep cash away from the Taliban after it captured Afghanistan.

US Treasury Secretary Janet Yellen and personnel at the Treasury's Office of Foreign Assets Control had decided to freeze the accounts, Dawn reported citing The Washington Post.

"Any central bank assets the Afghan government have in the United States will not be made available to the Taliban," an administration official told the newspaper in a statement.

According to the report, the US State Department, alongwith the White House, was consulted before the action adding that the Biden administration was contemplating other actions as well to pressure the Taliban, reported Dawn.

The terror group took control over Afghanistan on Sunday after entering the presidential palace in Kabul.

The Taliban leaders are discussing future government plans in Doha and are in touch with the international community and intra-Afghan parties to make government in Afghanistan.

The world is closely watching the unfolding situation in Afghanistan as the countries have scrambled to evacuate its citizen from Afghanistan in an attempt to secure their people.