OIC nations pledge fund to prevent Afghanistan economic collapse | Business and Economy News

OIC nations pledge fund to prevent Afghanistan economic collapse | Business and Economy News


The Organisation of Islamic Cooperation (OIC) has pledged to arrange a humanitarian belief fund for Afghanistan as hundreds of thousands face starvation and poverty.

The disaster is inflicting alarm with billions of {dollars} in help and property frozen by the worldwide neighborhood after the Taliban takeover of the nation in August this yr.

“Unless action is taken immediately, Afghanistan is heading for chaos,” Prime Minister Imran Khan, of Pakistan – which is holding the summit, informed a gathering of international ministers from the OIC.

“Any government when it can’t pay its salaries for its public servants, hospitals, doctors, nurses, any government is going to collapse but chaos suits no one, it certainly does not suit the United States.”

An OIC decision launched after the assembly mentioned the Islamic Development Bank would lead the trouble to unlock help by the primary quarter of 2022.

It additionally urged Afghanistan’s rulers to abide by “obligations under international human rights covenants, especially with regards to the rights of women, children, youth, elderly and people with special needs”.

The OIC assembly didn’t give the brand new Taliban authorities any formal worldwide recognition and Afghan Foreign Minister Amir Khan Muttaqi was excluded from the official {photograph} taken through the occasion.

Taliban Foreign Minister Amir Khan Muttaqi, centre, arrives to attend the opening of a particular assembly of the 57-member Organisation of Islamic Cooperation (OIC) in Islamabad [Farooq Naeem/AFP]

Muttaqi mentioned his authorities “has the right to be officially recognised”.

“The current Afghanistan government is cooperating with every foreign organisation,” he informed reporters, including that sanctions “must be removed”.

In a speech to delegates, he mentioned the US freezing of property “is a clear violation of the human rights of Afghans, and can be interpreted as enmity with an entire nation”.

Economy in ‘free fall’

While some nations and organisations have begun delivering help, a near-collapse of the nation’s banking system has difficult their work.

United Nations’ Undersecretary-General on Humanitarian Affairs Martin Griffiths was additionally current on the OIC assembly and warned that Afghanistan’s economic system was “now in free fall”.

“If we don’t act decisively and with compassion, I fear this fall will pull the entire population with it,” he mentioned in his remarks.

“Twenty-three million people are already facing hunger; health facilities are overflowing with malnourished children; some 70 percent of teachers are not getting paid and millions of children, Afghanistan’s future are out of school.”

Pakistan’s Foreign Minister Shah Mahmood Qureshi mentioned unlocking monetary and banking channels was important “because the economy can’t function and people can’t be helped without a banking system”.

Saudi Arabia’s Minister of Foreign Affairs Prince Faisal bin Farhan Al Saud, left, speaks to delegates through the opening of a particular assembly of the 57-member OIC in Islamabad [Farooq Naeem/AFP]

Beyond rapid help, Afghanistan wants assist guaranteeing longer-term economic stability.

Much will depend upon whether or not Washington is prepared to unfreeze billions of {dollars} in central financial institution reserves and carry sanctions which have brought on many establishments and governments to draw back from direct dealings with the Taliban.

Muttaqi reiterated the Taliban wouldn’t enable Afghanistan to be used as a base for assaults on different nations and he mentioned no reprisals could be carried out towards officers of the previous authorities.

However, the Taliban has confronted heavy criticism for conserving girls and ladies out of employment and schooling and excluding broad sections of Afghan society from authorities.

They have additionally been accused of trampling on human rights and, regardless of their promise of amnesty, concentrating on officers of the previous administration.



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