Editor in Chief: Moh. Reza Huwaida Monday, June 25th, 2018

IMF on Kabul Bank Crisis

Afghan Finance Minister Omar Zakhilwal has said the International Monetary Fund (IMF) has stopped payment of big amount after the Kabul Bank crisis. While criticizing the decision of the IMF, Mr. Zakhilwal said the decision was politically motivated and to pressurize Afghanistan. Another high-profile Afghan official, Head of the Office of Oversight for Anti-Corruption Dr. Azizullah Ludin has also uttered some wonderful words. He said that the international community should not stop aid funding for this minor incident! The almost-collapse of our banking system and economy caused by the ill-managed deed of some people at the management of Kabul is a 'small incident'. It's ridiculous, and shameful.

The Finance Minister while talking to media said the Government has not good relations with IMF after it stopped $70 million payment since the collapse of Kabul Bank. He said that IMF wanted a "politically motivated" resolution for Kabul Bank. Mr. Zakhilwal was very vague about the "severed" relations of Afghanistan with IMF and that there were political motives behind IMF's decisions regarding the collapse of Kabul Bank.

However, the statement of Azizullah Ludin shows how our officials take the Kabul Bank crisis, and to what extent they have been effective in taking action against those responsible for the crisis that has caused billions of bail out amount by the Government.

IMF is said to have pushed for any foreign entity to investigate the Kabul Bank crisis. Mr. Zakhilwal further said that the IMF is not "interested" in resolving the crisis, rather minor issues.
It has been the way the Government has dealt with the investigation of Kabul Bank crisis so far, that the international community and institutions do not trust the process. It has been the Government's political interests and compromises that nothing has happened of the Kabul Bank crisis. Neither all those who have taken loans returned the money nor those responsible for the collapse of the Bank, have been punished.

The way our Government has been dealing with the Kabul Bank crisis has not earned it the public confidence on the process. Distrust of the international institutions is caused by the performance of those concerned officials who have done nothing to bring the responsible people accountable, because of political compromises. Therefore, these officials should not make sensitive and purposeless statements.