MOSCOW - The International Monetary Fund will hold talks with Kabul on a new loan later in May.
The International Monetary Fund welcomes Afghanistan’s request for financial support and will discuss it later this month amid instability in the country, the fund said in a statement.
"The Afghan authorities recently requested a Fund financial arrangement (Extended Credit Facility—ECF)… IMF management welcomes this request, and discussions on the new arrangement are slated to begin in May 2016," the organization said in a statement Friday.
On Friday, the IMF completed its review of the situation in Afghanistan. The fund said that its Staff-Monitored Program (SMP), tasked with addressing the country’s financial vulnerabilities and preserving its stability, was completed successfully.
"Notwithstanding this progress, Afghanistan’s economic situation remains very difficult. Security and political uncertainties and the drawdown of international troops, together with weak governance and institutions, have held back growth and employment, and recently contributed to increased emigration," the fund said.
Afghanistan continues to be in political, economic and social turmoil as several militant groups have taken advantage of the instability that has persisted in the country since the 2001 US-led invasion.
The US-led NATO combat force withdrew from Afghanistan in December 2014. However, more than 10,000 US military personnel remain in the country as part of the Resolute Support mission. (Sputnik)