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IMF Satisfied With Govt’s Monetary, Economic Policy

Ministry of Finance says the IMF deems Afghan government's monetary reforms and currency stability "successful". 

The Ministry of Finance (MoF) on Monday said the International Monetary Fund (IMF) has assessed Afghan government’s programs towards Afghanistan’s economic and monetary system as "successful". 
  
According to MoF, in its fourth assessment, the IMF has described monetary reforms, increase in revenue and the stability of Afghan currency successful. 
  
Meanwhile, officials from the Central Bank of Afghanistan (CBA) have said that currently Afghanistan’s foreign exchange reserve is estimated at over $8 billion. 
  
“Despite the decrease noted in the value of currency of regional countries, the value of Afghan currency in October of this year reached 9 percent which is the lowest in the region,” said Khalil Sediq, CBA chief. 
  
Increase in the national revenue, financial and monetary reforms, reforms in the budget policy, implementation of law on the Prevention of Money Laundering and the Financing of Terrorism and curbing inflation are among the key areas which have been described successful by the IMF. 
  
“With the completion of this fourth stage, the IMF will provide us with 62 billion AFs, overall we have received more than 200 billion AFs during the fourth stage,” said acting minister of finance, Mohammad Humayoun Qayoumi. 
  
Qayoumi said that during the past two months several cases of violations were prevented in customs. 
  
He said the government is also working on a single salary grade policy in government institutions. 

Business

IMF Satisfied With Govt’s Monetary, Economic Policy

Ministry of Finance says the IMF deems Afghan government's monetary reforms and currency stability "successful". 

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The Ministry of Finance (MoF) on Monday said the International Monetary Fund (IMF) has assessed Afghan government’s programs towards Afghanistan’s economic and monetary system as "successful". 
  
According to MoF, in its fourth assessment, the IMF has described monetary reforms, increase in revenue and the stability of Afghan currency successful. 
  
Meanwhile, officials from the Central Bank of Afghanistan (CBA) have said that currently Afghanistan’s foreign exchange reserve is estimated at over $8 billion. 
  
“Despite the decrease noted in the value of currency of regional countries, the value of Afghan currency in October of this year reached 9 percent which is the lowest in the region,” said Khalil Sediq, CBA chief. 
  
Increase in the national revenue, financial and monetary reforms, reforms in the budget policy, implementation of law on the Prevention of Money Laundering and the Financing of Terrorism and curbing inflation are among the key areas which have been described successful by the IMF. 
  
“With the completion of this fourth stage, the IMF will provide us with 62 billion AFs, overall we have received more than 200 billion AFs during the fourth stage,” said acting minister of finance, Mohammad Humayoun Qayoumi. 
  
Qayoumi said that during the past two months several cases of violations were prevented in customs. 
  
He said the government is also working on a single salary grade policy in government institutions. 

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