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DAB to auction $16 million on Saturday

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Da Afghanistan Bank (DAB) says it will auction $16 million on Saturday, aimed at keeping the value of the country’s currency stable in the market against foreign currencies. 

Da Afghanistan Bank also known as the Central Bank of Afghanistan auctioned $17 million on February 27, and $15 million on February 23, as part of the continuous efforts to keep the value of Afghani stable against foreign currencies.

The bank has asked qualified private banks and exchange companies to participate in the auction, which is scheduled to be held on Saturday, March 4. 

According to DAB, the winners of the auction are obliged to liquidate their accounts by the end of the day. As per the announcement, partial settlement of transactions is not allowed and the winners of the auction are obliged to transfer the payable amount to the central bank in cash within a certain time. The exchange rate of one USD is announced to 89 Afghanis as of yesterday, March 2, 2023.

Since the Islamic Emirate took control of the country in August 2021, the value of Afghani has remained relatively stable, which is considered a positive sign for the war-torn country with an economy mostly dependent on foreign aid.

A number of economic experts meanwhile believe that one of the main reasons behind Afghani’s stable value is the inflow of dollars to Afghanistan in the form of international humanitarian aid, which satisfies the demand of the market to some extent.

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Afghanistan’s Economic Commission approves draft of National Development Strategy

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The Office of the Deputy Prime Minister for Economic Affairs on Tuesday announced that the draft of the National Development Strategy was approved on Tuesday after it was presented to the Economic Commission for discussion.

Before approving the draft, the commission evaluated the draft and incorporated amendments proposed by them.

The Economic Commission, led by Deputy Prime Minister Mullah Abdul Ghani Baradar, drew up the draft strategy, which is a comprehensive, unified, and long-term document designed to define and achieve the country’s fundamental national goals over the next five years.

According to a statement issued by Baradar’s office, the document was developed under the leadership of the deputy prime minister’s office. However, the Ministry of Economy served as the secretariat, and other relevant sectoral ministries were also involved.

The statement added this strategy envisions a stable, prosperous Afghanistan with strong and positive relations with the region and the world.

Its key objectives include upholding Islamic Sharia law, ensuring principles of efficiency, transparency, and accountability, expanding effective and constructive relations with the region and the world, establishing sustainable peace and overall security, creating employment and

fostering economic growth, preserving religious and national values, territorial integrity, and Islamic sovereignty, enhancing effective management of national and natural resources, improving the delivery of basic services, promoting industry, trade, and private sector development, advancing infrastructure and regional connectivity, and improving social protection and the living environment.

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IEA delegation to visit Pakistan soon: Ministry of Industry and Commerce

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The Ministry of Industry and Commerce on Tuesday announced a delegation from the Islamic Emirate of Afghanistan (IEA) will travel to Pakistan in the near future to discuss issues related to trade, transit, and transportation, as well as problems facing Afghan refugees in the neighboring country.

In a statement, the ministry said that a coordination meeting for this upcoming trip was held under the leadership of Nooruddin Azizi, Acting Minister of Industry and Commerce.

According to the statement, the delegation led by Azizi will include representatives from the office of the Economic Deputy Prime Minister, the Investment Facilitation Directorate of the Administrative Office, and the Ministries of Foreign Affairs, Finance, Refugees and Repatriation,

Transport and Civil Aviation, Agriculture, Irrigation and Livestock, along with members of the private sector.

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Acting FM Muttaqi calls for stronger Kabul–Astana ties in Kazakh delegation meeting

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Acting Foreign Minister Amir Khan Muttaqi met on Monday with a Kazakh delegation led by Yerkin Tukumov, head of the Institute for Strategic Studies of Kazakhstan, and stressed the need for the expansion of political and economic relations between Kabul and Astana.

Zia Ahmad Takal, head of public relations at the Ministry of Foreign Affairs, said in a statement citing Tukumov that the President of Kazakhstan pays special attention to Afghanistan-related matters, which has led to strong relations and broad engagement between Kabul and Astana.

At the meeting, Muttaqi expressed hope that alongside economic and trade advancements, the political relationship between the two countries would also be elevated.

The two sides discussed bilateral cooperation in areas such as reconstruction, infrastructure development, and leveraging the expertise of Kazakh specialists, the statement read.

Earlier, the Kazakh delegation also met with the acting Minister of Industry and Commerce. The ministry stated that the meeting highlighted both countries’ needs for export goods and transit routes.

Both parties also discussed the expansion of trade relations, Afghanistan’s economic growth, economic programs, increasing Afghan exports, and Kazakhstan’s support for Afghanistan’s transit initiatives.

Kazakhstan is considered one of Afghanistan’s key trading partners and maintains close economic ties with Kabul.

Experts believe that in recent years, Kazakhstan has sought to play a more active role in regional affairs, particularly with regard to Afghanistan.

In recent months, Afghan-Kazakh relations have been on the rise through official visits and diplomatic dialogues, although Kazakhstan has yet to officially recognize the Islamic Emirate.

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