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Afghanistan

Finance Minister Requests Big Loans from Foreign Donors

On the sideline of the World Bank’s annual meetings in Washington this week, Afghan Minister of Finance Humayoun Qayoumi reportedly asked for loans worth billions of dollars from several global financial institutions while promoting Afghanistan’s “Self-Reliance Accelerator Package,” sources have told TOLOnews.

In response, CEO Abdullah Abdullah’s office said that asking for billions of dollars of loans at this time wasn’t a good decision.

“In the view of the current sensitive situation of the country, making big requests for loans is not a good decision,” said Omid Maisam, Abdullah’s deputy spokesman.

Qayoumi reportedly asked for an $8 billion loan.

Lawmakers in Afghanistan’s parliament reacted to the move with dismay, saying the decision to apply for an $8 billion loan raises concerns since there is no clarity about which projects the money is intended for.

Lawmakers said there are fears of embezzlement in view of the ongoing corruption allegations plaguing government institutions.

“They are trying to take money under the guise of reconstruction. But they divide 99 percent of the money with their foreign counterparts and then it is our future generations who have to compensate,” said MP Ramazan Bashardost.

Afghanistan

Finance Minister Requests Big Loans from Foreign Donors

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On the sideline of the World Bank’s annual meetings in Washington this week, Afghan Minister of Finance Humayoun Qayoumi reportedly asked for loans worth billions of dollars from several global financial institutions while promoting Afghanistan’s “Self-Reliance Accelerator Package,” sources have told TOLOnews.

In response, CEO Abdullah Abdullah’s office said that asking for billions of dollars of loans at this time wasn’t a good decision.

“In the view of the current sensitive situation of the country, making big requests for loans is not a good decision,” said Omid Maisam, Abdullah’s deputy spokesman.

Qayoumi reportedly asked for an $8 billion loan.

Lawmakers in Afghanistan’s parliament reacted to the move with dismay, saying the decision to apply for an $8 billion loan raises concerns since there is no clarity about which projects the money is intended for.

Lawmakers said there are fears of embezzlement in view of the ongoing corruption allegations plaguing government institutions.

“They are trying to take money under the guise of reconstruction. But they divide 99 percent of the money with their foreign counterparts and then it is our future generations who have to compensate,” said MP Ramazan Bashardost.

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