Thursday, May 30, 2024

White House warns of deepening economic collapse in Taliban-Controlled Afghanistan

Immigration News

Fidel Rahmati
Fidel Rahmati
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

The White House sent a message to Congress, cautioning about a worsening economic downturn in Afghanistan alongside a widespread humanitarian crisis, according to Reuters.

The message highlighted that the humanitarian crisis in Afghanistan, under Taliban control, poses a serious threat to America’s national security, according to the statement.

On Tuesday, Biden informed the U.S. Congress that he would extend the emergency status order related to Afghanistan after February 11th.

In his message, Biden stated: “There is a widespread humanitarian crisis in Afghanistan, including urgent needs for food security, livelihoods, water, sanitation, shelter, and other necessities, with the potential for the country’s economic collapse deepening every day.”

Biden added that this situation poses “an unusual and extraordinary threat to national security and foreign policy of the United States.”

In a statement on the White House website, President Biden emphasized the necessity of safeguarding specific assets held by the Afghanistan Central Bank (DAB) within the United States. He stressed their crucial role in addressing the national emergency and supporting the well-being of the Afghan people.

President Biden recognized the existence of legal claims from different entities, including terrorism victims, regarding certain DAB assets. Consequently, these assets continue to be frozen as per his executive order, reflecting the intricate legal and humanitarian factors involved.

Following the Taliban’s takeover of Afghanistan in August 2021, over $9 billion of Afghanistan’s assets in European and American banks have been frozen, with $7 billion held in American banks.

The United States established a trust fund in Switzerland on November 21, 2022, to protect these assets and transferred $3.5 billion from Afghanistan’s currency reserves to this fund, aiming to strengthen financial and monetary stability in the face of Afghanistan’s pervasive economic crisis.

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