DAB Delegation Participates in IMF Meeting
Da Afghanistan Bank delegation led by Mr. Wahidullah Nosher, the Acting and first Deputy Governor of Da Afghanistan Bank participated in IMF meeting held between the government of Afghanistan and IMF on January 23-26, 2019, in Dubai.
The meeting was arranged to discuss the recent developments of the country, economic vision, structural reforms, and regional conditions.
After detailed and comprehensive discussions on exchange rate condition, net currency reserves, inflation rate and the banking sector, Mr. Christoph Duenwald, the IMF team in-charge in Afghanistan affairs said; “the IMF executive meeting conducted its sixth and last review of the Extended Credit Facility. This is a significant achievement for Afghanistan that it has successfully completed the joint economic program with IMF.
He added that the successful completion of Extended Credit Facility was a result of the laudable efforts of Afghan authorities and the commitment of their relevant team in successful implementation of program goals. Mr. Christoph said that the recent economic developments in Afghanistan were, to a great extent, in accordance with IMF forecasts, as pressure on Afghani exchange rate against foreign exchange has reduced, net currency reserves remains in a good level, and the inflation rate has been recorded comparatively lower than forecasted.”
Subsequently, Mr. Nosher considered the successful completion of ECF a great achievement of the Afghan government and extended his gratitude to the IMF team for their continuous efforts for its completion and implementation. He praised Mr. Christoph whose tenure as in-charge of IMF team for Afghanistan ended, and presented to him appreciation letter. Mr. Nosher also congratulated Mr. Azim Sadikov, the newly appointed successor of Mr. Christoph, and wished him success.
In the end, the Afghan government and IMF decided to continue the policies of the completed ECF program until the new program’s initiation, and agreed that they will discuss the new economic program which will start in the middle of the current year.