The International Monetary Fund said on Wednesday it suspended Afghanistan’s access to IMF resources, including around $440 million in new monetary reserves, due to a lack of clarity over the country’s government after the Taliban seized control of Kabul.
Reuters
This happened right after the United States pulled out of Afghanistan.
Why did the International Monetary Fund make the move?
The IMF’s announcement came amid pressure from the U.S. Treasury, which holds a controlling share in the Fund, to ensure that Afghanistan’s share of a Special Drawing Rights reserves allocation scheduled for Monday not fall into Taliban hands.
That is no surprise.
The United States holds the controlling interest in all major world organizations. They provide 22% of the funding for the United Nations, NATO, the World Bank, the IMF, etc.
Global Banking
Now global banking has always been an interesting topic.
Especially when we are discussing globalization.
When we look at Afghanistan, in the 20 years the United States occupied it, nothing was accomplished. Afghanistan is no more consolidated into the global structure than it was 20 years ago.
This is what I mean,
- Afghanistan has been a member of the World Bank since July 14, 1955.
- Afghanistan has been a member of the International Monetary Fund since July 14, 1955.
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- Full list of member countries for the IMF.
- Full list of member countries for the World Bank.
How about the Bank for International Settlements (BIS)?
The Bank’s capital is held by central banks only. Sixty-three central banks and monetary authorities are currently members of the BIS and have rights of voting and representation at General Meetings:
BIS member central banks
There are just 63 nations whose central banks have power with the BIS.
Afghanistan Mess
Officially, the original invasion of Afghanistan was to catch Osama Bin Laden we are told. Yet, the United States stayed in Afghanistan for 20 years, supposedly training their troops so they could stand against terrorism.
The United States helped build up the Afghan government so it could be a part of a modern globalized world. However, the Afghan people simply did not have it in them. Their culture is extremely backward when we look at the modern era…
It’s now no secret, that the official mission utterly failed. We also see Afghanistan has been a part of the global banking system nearly since the beginning of the IMF and World Bank.
So what was the real goal in Afghanistan?
It certainly wasn’t to bring it into any global order.
Perhaps, just perhaps, the world is not as finely controlled as many of us once believed.