Feds conficasted $7 billions from Afghan central bank including $1.3 billion in gold, says central bank chief
Afghan central banker chief, Ajmal Ahmady, fled the country (after he was “pushed on board” of a military plane by his colleagues), and he warned on twitter that the country has no dollars left domestically (any dollars and gold currently stored at the local central bank).
ZeroHedge and Reuters, made a breakdown of the international reserves that the country central bank (DAB) has, and it shows that they held $9 billion, including $1.3 billion-worth of gold reserves and $362 million in foreign currency cash reserves:
Federal Reserve = $7.0
International accounts = $1.3
BIS = $0.7
The major investment categories include the following assets (all figures in billions)
(1) Federal Reserve = $7.0
– U.S. bills/bonds: $3.1
– WB RAMP assets: $2.4
– Gold: $1.2
– Cash accounts: $0.3
(2) International accounts = 1.3
(3) BIS = $0.7
— Ajmal Ahmady (@aahmady) August 18, 2021
The central bank’s consolidated statement revealed that the New York Fed’s gold vault located hundreds of feet below street level, held gold bars worth 101,770,256,000 afghanis – or some $1.32 billion – on behalf of the Afghan central bank at end-2020
It is very unlikely that the IMF will proceed with making any disbursements to the Taliban as insurgents gaining access to those assets would be hard to digest in capitals around the globe.
In 2019, they suspended Venezuela’s access to its SDRs after more than 50 member countries representing a majority of the Fund’s shareholding refused to recognize Nicolas Maduro’s government as Venezuela’s legitimate ruler following disputed 2018 elections.
After that, Bank of England refused to release $1 billion worth of Venezuela gold to the Maduro regime after he was found to be an illegitimate president.
Given Afghanistan’s large current account deficit, the central bank was reliant on obtaining physical shipments of some of the $362 million worth of cash that they have every few weeks. The amount of such cash remaining is close to zero due a stoppage of shipments as the security situation deteriorated, especially during the last few days.
NEW: The Biden administration last week canceled bulk shipments of dollars headed for Afghanistan as Taliban fighters were poised to take control of the capital city of Kabul@KateDavidson @IanTalley https://t.co/Thewvrsgpb
— Andrew Restuccia (@AndrewRestuccia) August 17, 2021
With informations: ZeroHedge