Reports said that Afghanistan, after being judged by the International Monetary Fund (IMF) to have made satisfactory progress on its reforms plan, is set to receive a further amount of up to €6m from the UN special agency.
Afghanistan reform progress promising, as IMF commends
The country, as Public Finance International reported in its website, has a three-year extended credit facility (ECF) arrangement with the IMF, which mandates the introduction of fiscal and financial reforms, and anti-corruption measures.
These are among other reforms aimed at encouraging greater private sector development and more inclusive growth.
Both Afghan authorities and IMF staff team, in the first review of the program, held in Dubai between Feb 23 and March 4, reached an agreement that a further $1m will be unblocked to assist the country, once this gains the approval of IMF management and the executive board.
According to findings, the IMF team-leader said that performance against the ECF’s reform objectives had been satisfactory, as he condemned the related authorities of prudent macroeconomic management.
Perilous security (hurting confidence and growth) and a growing influx of returnees from neighboring and other countries, he said have compounded to force the economically tattered nation continue to face daunting challenges.
But, despites this, the country could step up in various fields, particularly in implementation of reform plan, for which, it could gain the praise of the International Monetary Fund recently, granting it the big amount of €6 million.
Last year, as demonstrated by the successful Brussels and Warsaw conferences, the international community continues to stand by Afghanistan providing it with much needed development, security, and technical assistances support, as the team leader assured.
For its greater favorable agricultural output, Afghanistan is expected to have 3 percent growth, this year, up from 2 percent in 2016, if insecurity quenched and the international community’s commitment in flowing support to the country practiced.
Since the last more than two weeks of key trade and transit borders closure by Pakistan, Afghanistan is not luckily facing so much concerning lack of primary stuffs, especially food items, as it, under the ongoing leadership, could do its best to bring reforms and fight corruption all over the country’s ports’ offices that helped the citizens remain tranquil, despites fear of hike of edible items’ prices.
If the international community, particularly the US and the allies continue supporting Afghanistan’s security forces in war against terrorism, then hope would raise that the country could step up towards more progress and would gain more international approvals on reforms plan execution and fighting heinous corruption.