Business
Central bank governor says international reserves have not been compromised
Ajmal Ahmady, Afghanistan’s central bank governor and former minister of industry and commerce, posted a series of tweets on Wednesday stating he wanted to “clarify the location of DAB (Central Bank of Afghanistan) international reserves.”
He said that DAB reserves were approximately $9.0 billion as of last week but that “this does not mean that DAB held $9.0 billion physically in our vault.”
He said as per international standards, most assets are held in safe, liquid assets such as Treasuries and gold.
He said that DAB was set to receive approximately $340 million on August 23rd from the International Monetary Fund.
“Not sure if that allocation will now proceed with respect to Afghanistan,” he said.
Given Afghanistan’s large current account deficit, DAB was reliant on obtaining physical shipments of cash every few weeks, he said.
“The amount of such cash remaining is close to zero due to a stoppage of shipments as the security situation deteriorated, especially during the last few days,” he said.
“On Friday morning, I received a call notifying me that there would be no further USD (US Dollar) shipments,” Ahmady said, adding they were expecting one on Sunday, the day the Taliban took control of Kabul, but that this shipment did not arrive.
Ahmady said that on Saturday, banks placed very large USD bids as customer withdrawals accelerated.
“For the first time, I therefore had to limit USD access to both banks and dollar auctions to conserve remaining DAB dollars.
“We also put out a circular placing maximum withdrawal limits per customer,” he said.
He assured Afghans that in no way were Afghanistan’s international reserves ever compromised.
“We had a program with both the IMF and Treasury that monitored assets. No money was stolen from any reserve account,” he said.
However, he stated that given that the Taliban are still on international sanction lists, it is expected that such assets will be frozen and not accessible to Taliban.
“I believe local banks have told customers that they cannot return their dollars – because DAB has not supplied banks with dollars.
“This is true. Not because funds have been stolen or being held in a vault, but because all dollars are in international accounts that have been frozen,” he said.
“Taliban should note this was in no way the decision of DAB or its professional staff. It is a direct result of the US sanctions policy implemented by OFAC (the American Office of Foreign Assets Control),” he said.
In conclusion, Ahmady suggested the Taliban implement capital controls and limit dollar access.
Business
Uzbekistan reports strong surge in trade with global partners led by China
China accounts for 23.6% of total foreign trade turnover, followed by Russia with 17.2%, Kazakhstan with 6.9%, Turkey with 3.5%, and Afghanistan with 2.8%.
Uzbekistan has recorded a significant increase in foreign trade during January–April 2026, driven by expanding economic ties with China and steady growth across Central Asia, the Middle East, and Europe, according to official statistics.
Data from the National Statistics Committee show that China remained Uzbekistan’s largest trading partner, with bilateral trade reaching $6.23 billion, up sharply from $4.17 billion in the same period last year. Russia followed with $4.52 billion, while Kazakhstan ranked third at $1.81 billion.
Other key partners included Turkey, Afghanistan, South Korea, the United Arab Emirates, and France, with additional growth recorded in trade with Germany, India, Belarus, Kyrgyzstan, and several other countries.
The fastest-growing trade relationships were seen with the United Arab Emirates, Ireland, Afghanistan, and Vietnam, highlighting Uzbekistan’s continued efforts to diversify its external economic partnerships.
Overall, Uzbekistan now maintains trade relations with more than 175 countries. China accounts for 23.6% of total foreign trade turnover, followed by Russia with 17.2%, Kazakhstan with 6.9%, Turkey with 3.5%, and Afghanistan with 2.8%.
Exports remain largely dominated by goods, making up 65.3% of outbound trade, including industrial products, chemicals, manufactured goods, and food products, according to official data.
Business
Tashkent Deputy Governor set to visit Kabul with Uzbek trade delegation
The Deputy Governor accepted the invitation and said he plans to travel to Kabul in the coming months at the head of a trade delegation.
Sayed Karim Hashemi, Director General of the Afghanistan Chamber of Commerce and Investment (ACCI), has met with the Deputy Governor of Tashkent to discuss expanding trade and economic cooperation between Afghanistan and Uzbekistan.
During the meeting, Hashemi highlighted the growing economic ties between Kabul and Tashkent, noting that the ACCI has hosted several Uzbek governors and trade delegations in recent years. He also expressed satisfaction with the increase in bilateral trade between the two countries and invited the Tashkent Deputy Governor to visit Kabul.
The Deputy Governor accepted the invitation and said he plans to travel to Kabul in the coming months at the head of a trade delegation.
He welcomed the expansion of cooperation between the chambers of commerce of Afghanistan and Uzbekistan and described the establishment of Uzbek trade houses in Kabul, Balkh, Herat, and Nangarhar provinces as a significant step toward strengthening trade relations.
The Tashkent official also emphasized the importance of sustaining economic and commercial cooperation and pledged continued support for Afghanistan’s private sector through all available means.
Business
Afghanistan highlights strategic connectivity role at Termez Dialogue
Azizi stressed that shared economic interests can play a crucial role in fostering lasting peace, mutual trust, and regional stability.
Afghanistan has reaffirmed its commitment to regional economic integration, highlighting its strategic position as a vital link between Central and South Asia during the second Termez Dialogue on Connectivity.
Afghanistan’s Minister of Industry and Commerce, Nooruddin Azizi, participated in the forum, which brought together senior government officials, representatives of the United Nations, the European Union, and regional organizations under the theme, “Peace, Connectivity and Prosperity: Building the Foundations of Shared Development.”
Addressing the high-level session virtually, Azizi emphasized Afghanistan’s vision of expanding regional trade, strengthening economic cooperation, and maximizing the country’s transit potential.
According to the Ministry of Industry and Commerce, Azizi noted that Afghanistan’s geographic location uniquely positions it to serve as a bridge between Central and South Asia, facilitating the movement of goods, investment, and people across the region.
He also highlighted the Trans-Afghan Railway Project as a key regional connectivity initiative, saying it would help link rail networks, boost trade and transit, and deepen economic cooperation among participating countries.
Azizi stressed that shared economic interests can play a crucial role in fostering lasting peace, mutual trust, and regional stability.
Representatives from Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Azerbaijan, India, and Bangladesh also attended the dialogue, underscoring the importance of expanding economic partnerships and developing new trade corridors.
Afghanistan’s participation reflects its growing role in regional transit and infrastructure initiatives aimed at strengthening connectivity and economic growth across Central and South Asia.
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