English | دری

Afghan government seeks bailout from donors to pay salaries

in Afghan Business

Afghan government seeks bailout from donors to pay salaries

The Afghan government has asked donors for a bailout before the end of the year, as salary payments to government employees are still pending.

The national treasury has run out of money to pay salaries this month and has called on international donors for a bailout.

Mohammad Aqa Kohestani, head of the treasury at the Ministry of Finance, said government officials have met with representatives of the United Nations and a group of about 25 donors this week to address the budget issue.

Afghanistan had asked for a USD 537mn bailout in September, but donors only provided USD 170mn.

The budget crisis is one of the many issues facing President Ashraf Ghani’s administration.

Ghani is yet to appoint its cabinet after almost three months into his presidency.

Afghanistan’s economic growth has plunged to 1.5% this year, down from 3.7% last year.

Despite the influx of billions of dollars, Afghanistan’s economy has failed to achieve self-sufficiency and the cut-down in donations has left the economy crippled.



Related Articles

World Bank’s IFC to acquire equity stake in Afghanistan International Bank

The International Finance Corporation (IFC), a member of the World Bank, is looking to invest in the Afghanistan International Bank

Kabul mayor vows to expose debtors and land grabbers

Acting mayor of Kabul vowed to expose debtors and land grabbers in a press conference in Kabul on Saturday. The

Winter descending on Shakur clan

By David Zucchino, Los Angeles Times In the pale gray twilight of late autumn, a sharp wind slaps at the

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*