Afghanistan Currency
Afghanistan
In November following the capture of Kabul by the Northern Alliance, there were credible reports that as Taliban members fled the city, they ransacked offices, stole vehicles, looted the museum, and stole an estimated $1.5 million in the currency exchange district. ... [Read More]
State Department Pamphlet Highlights International Reconstruction Efforts in Afghanistan
Among the first-person testimonies featured in the pamphlet are Abdel Kamaal, training to be a minesweeper with Bosnian experts using Italian equipment; merchant Ahmad Shah, who says “business has been about 50% better” this year thanks to an improved economic outlook and the introduction of the new Afghan currency; Nadira Ayoubi and Karima Ghaznawi, two young women eager to practice photojournalism and medicine, respectively; and civil engineer Ahmad Kabir, delighted with his new job restoring the restaurant in Kabul’s Babur Gardens. ... [Read More]
White House Fact Sheet: Rebuilding Afghanistan
Fiscal and banking reform, trade policy, legal and regulatory framework, and privatization of state owned banks and public sector enterprises is being implemented by the Afghan government, and over the next three years, the U.S. will provide $50 million to promote. These activities are in support of the Afghan Government's ambitious program aimed at restoring full central government control of the nation's currency. Afghanistan is applying for entry into international trade agreements, including Generalized System of Preferences, and the Afghan-American Chamber of Commerce is working to spark international investment. ... [Read More]
Remarks at Central Bank of Afghanistan
I was remarking, as we were talking, that it was in February or March that President Karzai was in Washington and we had a meeting at the Blair House and we were talking about this project to create a new currency for Afghanistan. And at the time it seemed like a mammoth project that would take a long time. But I am very impressed at what has been done with the new currency to begin the exchange and to have the prospect of completing the exchange by the end of the year. ... [Read More]
Fact Sheet: The United States and Afghanistan - A Lasting Partnership
Economic Progress: Afghanistan's legal economy grew at a rate of almost 30 percent in 2002 and 25 percent in 2003 and is projected to grow 20 percent this year. Afghanistan implemented a stable currency in 2002, passed a strong investment law in 2003, and has adopted a national development strategy that limits spending and boosts revenues. Progress in 2004 includes major customs reform and improvements in collection, a broadening of the tax base and an increase in government fiscal accountability. Fiscal revenues exceeded targets in the last fiscal year. The 2002 Good Neighbor Agreement between Afghanistan and all its neighbors is working to boost trade and foster investment. ... [Read More]
Afghanistan: Seeds of Hope
Afghanistan replaced its old currency, which had lost much of its value, in 2001. Business owners say the new currency has improved the economy, since shoppers are more confident of its value. (John Wicart) ... [Read More]
Iraq and Afghanistan: Accomplishments and Next Steps
Economic rehabilitation is essential to economic growth. The CPA has asked USAID to provide technical support in 17 priority areas in economic governance. Our counterparts in this critical effort include the Iraqi Central Bank, Iraqi state-owned enterprises, and the Ministries of Finance, Trade, Agriculture, and Industry. These priority areas include: introduction of a new currency, credit for small businesses, improvement to commercial legislation, coordination of a national employment program, bank-to-bank payment system, new tax policies, and effective budget planning. USAID and its partner, BearingPoint, are playing a key supporting role in supporting the currency exchange operation and are developing a bank-to-bank payment system that will allow 80 banks to conduct business by mid-October. We are also assisting the CPA in the management of its micro-lending program and are evaluating private sector and investment-related commercial laws. ... [Read More]
Nomination to be Ambassador to the Islamic Republic of Afghanistan
On the economic front, Afghanistan has made significant progress in the last four years. The creation of a new, stable currency in 2002 was an impressive achievement and government policies have helped lay the groundwork for an economic expansion that has seen GNP increase by over 50 percent over the last three years. Reconstruction efforts are also showing results. The drive from Kabul to Kandahar now takes five hours instead of 16, thanks to a fully paved highway that links Afghanistan’s two largest cities. Work is ongoing on the Kandahar to Herat portion of the road and on some 1000 kilometers of secondary roads. In the south, the Kajaki Hydroelectric Plant, which provides electricity to Kandahar, is being overhauled and throughout the country hundreds of schools and health clinics have been constructed and rehabilitated. School attendance for girls and boys increased to a record four million last year. ... [Read More]
Afghanistan (04/05)
Currency: The currency is the afghani, which was reintroduced as Afghanistan’s new currency in January 2003. At present, $1 U.S. equals approximately 45 afghanis. ... Information on travel conditions, visa requirements, currency and customs regulations, legal holidays, and other items of interest to travelers also may be obtained before your departure from a country's embassy and/or consulates in the U.S. (for this country, see "Principal Government Officials" listing in this publication). ... [Read More]
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