The IMF lends to Afghanistan USD129 Million

WASHINGTON - The International Monetary Fund (IMF) has reached a tentative agreement with Afghanistan for your three-year loan amounting to USD129 million.

Proceeds will probably be utilized to support the government's economic reforms, right after previous similar funds suspended on account of a bank crisis.

The IMF said the Afghan government has made "important progress" in managing the crisis in Kabul Bank.
Not too long ago, the bank just about collapsed because of mismanagement and questionable loans. In June, the IMF stopped giving $ 70 million in reconstruction total funds are likely to Afghanistan.

This termination is really a form of international displeasure over the handling of bank crisis. It is actually quoted through the Linked Press on Friday (10/07/2011).
The financial institution is in the control of the Afghan central bank and 2 former executives have already been arrested for allegedly embezzling millions of dollars to banks. IMF board will think about new loans in November.