OIC countries pledge fund to prevent Afghan economic collapse | Business and Economic Affairs

The Islamic Cooperation (OIC) has promised to set up an aid fund in Afghanistan millions of people suffer from hunger and poverty.

The crisis is triggering an alarm with billions of dollars in aid and Fifth goods and the international community after taking over the Taliban in August this year.

“Unless they take immediate action, Afghanistan is in a state of turmoil,” Pakistan’s Prime Minister Imran Khan, who is chairing the summit, told a meeting of foreign ministers from the OIC.

“If any government fails to pay its salaries to government employees, hospitals, doctors, nurses, any government will end but the crisis is not for everyone, it is not in line with the United States.”

1️⃣: @OIC_OCI to establish the Humanitarian Trust Fund, under the auspices of @isdb_group, as a means of providing social services #Afghanistan in addition to collaborations with other players around the world. pic.twitter.com/Ckw5EUGnYq

– The Prophet 🇵🇰 MoFA (@ForeignOfficePk) December 19, 2021

An OIC statement issued after the summit said the Islamic Development Bank would lead efforts to release aid by the first quarter of 2022.

It also urged Afghan authorities to adhere to “the principles of international human rights conventions, in particular the rights of women, children, youth, the elderly and persons with special needs”.

The OIC summit did not give the new Taliban government any recognition worldwide and Afghanistan’s foreign minister Amir Khan Muttaqi was not included in the photograph.

Muttaqi said his government “has a fundamental right”.

“The current Afghan government is affiliated with any foreign agency,” he told reporters, adding that sanctions “should be lifted.”

Addressing the delegation, he said the US economic cold “was a violation of the fundamental rights of the Afghans, and could be interpreted as hostility to the rest of the world”.

Economy in ‘free fall’

As other countries and organizations begin to provide assistance, the banking collapse in the country has almost disrupted their operations.

The United Nations Secretary-General for Humanitarian Affairs Martin Griffiths was also present at the OIC summit and warned that. Afghanistan steel was “now in the free fall”.

“If we do not act in a hasty and compassionate manner, I fear this fall will attract everyone,” he said in a statement.

I am encouraged by the support of the Afghan people and the zeal of the OIC member states today.

My comments: https://t.co/dYuLLxqGbi

– Martin Griffiths (@UNReliefChief) December 19, 2021

“23 million people are hungry; hospitals overflow with underprivileged children; 70% of teachers are unpaid and millions of children, the future of Afghanistan is out of school. ”

Pakistan’s Foreign Minister Shah Mahmood Qureshi said the opening up of financial services to banks was important “because the economy could not function properly and people could not be helped without banks”.

Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Al Saud, left, addressing a delegation at the opening of a special meeting of 57 OIC members in Islamabad. [Farooq Naeem/AFP]

In addition to immediate aid, Afghanistan needs help to ensure sustainable economic growth.

Much will depend on Washington’s ability to release billions of dollars from central banks and the lifting of sanctions that have caused many organizations and governments to withdraw from the Taliban.

Muttaqi also said that the Taliban would not allow Afghanistan to be used as a foreign power and that there would be no retaliation against former government officials.

However, the Taliban were widely criticized for barring women and girls from working and education and for excluding large sections of the Afghan population in the state.

They are also accused of violating human rights, and despite promising pardon, they are targeting former administration officials.