The International Monetary Fund announced yesterday that it had suspended Afghanistan’s access to IMF resources, including about $440 million-worth of Special Drawing Rights (SDR) reserves. “There is currently a lack of clarity within the international community regarding recognition of a government in Afghanistan, as a consequence of which the country cannot access SDRs or other IMF resources,” an IMF spokesperson said in an emailed statement, reported Reuters. “As is always the case, the IMF is guided by the views of the international community,” the spokesperson added.
In this case, the “international community” was the U.S. Treasury, which holds a controlling share in the Fund, which pressured the IMF to ensure that Afghanistan’s share of an SDR reserves allocation scheduled for Aug. 23 not fall into Taliban hands. A U.S. Treasury official said earlier on Wednesday that the department was taking steps to prevent the Taliban from accessing the country’s SDR reserves but didn’t provide further details.
