IMFTeam Says Dollar Best Currency for Afghanistan
January 30, 2002 - 0:0
KABUL A team of International Monetary Fund and World Bank experts visiting Afghanistan said on Tuesday it would make sense for the country to switch to the U.S. dollar in the short term.
"I personally see more benefits than negative effects," IMF fiscal policy expert Warren Coats told a news conference in the Afghan capital. "It is one of those options we are discussing with authorities."
More than two decades of conflict have seen successive Afghan governments print money at will, leaving the country awash in the afghani currency, which is worth around 30,000 to the dollar.
Afghan Central Bank Governor Abdul Qadeer Fitrat told the same news conference that a final decision on the Afghan currency would be made by the interim administration's cabinet "in the near future".
The World Bank and IMF team is in Afghanistan for a week for talks on how to revitalize the country's shattered economy.