US State Department confirms Afghan banknotes to be printed in Europe
Cash-reliant Afghanistan is set to get new banknotes, that will be printed in Europe, as those in circulation crumble and disintegrate, the US State Department’s Spokesman Ned Price confirmed Wednesday.
Price said at a press conference in Washington that two transactions to pay to print Afghani banknotes has been facilitated by the US.
“These two transactions have been underway for several months now. Banks dealing with Afghanistan see any banking transactions originating from or going to Afghanistan as extremely high-risk,” he said.
‘The United States and our partners have been working hard with international banks to facilitate payment transfers from Afghanistan’s central bank to European printing companies where new banknotes would actually be produced.
“These companies will now prepare new afghanis, which will be used to replace worn-out banknotes. And this will address one of the aspects of Afghanistan’s ongoing liquidity crisis, consistent with U.S. efforts to support basic human needs and avoid an economic collapse,” he said.
He said the need for new banknotes was urgent and while “goods are available for sale, cash to purchase those goods is deteriorating, and the central bank with these transactions will be able to replace old and damaged banknotes.”
“And this will provide the Afghan people’s ability to purchase food and other necessary items. So it’s hugely important” he said. .
He added that this move is about the welfare and the well-being of the Afghan people. “They have suffered from the deterioration of these banknotes. Their largely cash-driven economy has been hamstrung by the lack of banknotes that are not crumbled or otherwise deteriorated.”
This comes after US Special Envoy for Afghanistan Thomas West announced a few days ago that the new banknotes would be printed.
No details as to where they will be printed have been given nor has anyone revealed when these notes will be put into circulation.