Business
IMF to disburse US$220 million to Afghanistan to fight COVID19 pandemic
The Executive Board of the International Monetary Fund (IMF) has approved US$220 million in aid to fight the Coronavirus in Afghanistan.
The International Monetary Fund has said the aid comes into effect upon the request of the Afghan government.
The Afghan Ministry of Finance stated that a large portion of the money will be used to fight Coronavirus, and another part will be used to keep the country’s economic turnover active.
“We had applied for a loan from the International Monetary Fund, which has been approved,” said Shamrooz Khan Masjidi, the spokesman for the Ministry of Finance.
He added that in addition to fighting the coronavirus, the money would be used to keep Afghanistan’s economic turnover active.
On the other hand, the private sector is asking the Afghan government to spend this money on strengthening the private sector, given the current state of investment in the country.
While experts say that global aid in the fight against the Coronavirus is beneficial, they are concerned about the management of the funds of this sort.
