The president intends to use the Afghan central bank’s assets to fund needs in Afghanistan amid a humanitarian disaster, and compensate victims of the Sept. 11, 2001, attacks. Biden is starting to clear a legal path for relatives of victims of Sept. 11, 2001, attacks to pursue $3.5 billion that Afghanistan’s central bank had deposited in New York before the Taliban takeover, while also seeking to steer a roughly equal amount toward spending to aid the Afghan people.
When the Afghan government dissolved in August — with top officials, including its president and the acting governor of its central bank, fleeing the country — it left behind slightly more than $7 billion in central bank assets on deposit at the Federal Reserve Bank in New York. Because it was no longer clear who — if anyone — had the legal authority to gain access to that account, the Fed made the funds unavailable for withdrawal.
Pakistan had seen the U.S. decision to unfreeze the Afghan assets held by the U.S. banks to release $3.5 billion for humanitarian assistance in Afghanistan and $3.5 billion for compensation to families of 9/11 victims.
Responding to media questions, he said over the past several months, Pakistan had been consistently emphasizing the need for the international community to quickly act to address the unfolding humanitarian catastrophe in Afghanistan and to help revive the Afghan economy, as the two were inextricably linked.
“Finding ways to unfreeze the Afghan foreign reserves urgently would help address the humanitarian and economic needs of the Afghan people.”
He said Pakistan’s principled position on the frozen Afghan foreign bank reserves remained that these were owned by the Afghan nation and these should be released. The utilization of Afghan funds should be the sovereign decision of Afghanistan.
The Afghan people were facing grave economic and humanitarian challenges and the international community must continue to play its important and constructive role in alleviating their sufferings. Time was of the essence, he added.
Pakistan’s principled position on the frozen Afghan foreign bank reserves remains that these are owned by Afghan nation and should be released.
Responding to media questions, Foreign Office Spokesperson Asim Iftikhar Ahmad in a statement said that utilization of Afghan funds should be the sovereign decision of Afghanistan.
He said Pakistan has seen the U.S. decision to unfreeze the Afghan assets held by the U.S. banks to release 3.5 billion dollars for humanitarian assistance in Afghanistan and 3.5 billion dollars for compensation to families of 9/11 victims.
The Spokesperson said over the past several months, Pakistan has been consistently emphasizing the need for the international community to quickly act to address the unfolding humanitarian catastrophe in Afghanistan and to help revive the Afghan economy, as the two are inextricably linked.
