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| Afghanistan |
| Central Bank Chief Accuses Banks of Smuggling Money Abroad |
| 2012-11-22 |
| [Tolo News] Local Afghan banks are sending vast amounts of money abroad which is causing foreign currency inflation, head of Afghanistan's Central Bank Noorullah Delawari said on Wednesday. Delawari claimed before Parliament that $4.6 billion was smuggled outside of Afghanistan last year. "In the past year, $4.6bn was sent to foreign countries illegally. We proposed a law to the Council of Ministers which they approved, but despite the existence of this law, several banks are sending the money to outside," Delawari said, adding that he's investigating the issue. Several government officials including Finance Minister Hazrat Omer Zakhilwal and Commerce Minister Abdul Hadi Arghandiwal were summoned to the parliament to respond to the recent increase of foreign currency rates against the Afghani. The Finance Minister said that part of the problem are concerns for post 2014, spread by political experts in local media. "The economy-related organs are not spreading concerns about post 2014 bankruptcy, but the politicians and the experts are propagating this in media," Zakhilwal told the politicians. Meanwhile, ...back at the sea battle, the Terror of the Baltic's career had come to an abrupt and watery end... the Commerce Minister said that export balance of the country is as low as five percent. "We don't have anything to export, our trade balance is negative. Ninety-five percent of our trade deals were imports - we have only five percent export goods," Arghandiwal said. |
| Posted by:Fred |
| #1 Afghanistan will declare bankruptcy in 2014? |
| Posted by: American Delight 2012-11-22 08:34 |