A Bloomberg article claims that every day, millions of dollars are being smuggled into Afghanistan from Pakistan to support the nation’s faltering economy after the US and Europe denied the new administration access to billions in foreign funds.
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A 26-member group of currency dealers, traders, and smugglers is allegedly smuggling as much as $5 million per day across the border, according to the report, which cited Muhammad Zafar Paracha, general secretary of the Pakistan Exchange Companies Association.
According to Paracha, money is unquestionably being smuggled. The success of this company has increased significantly.
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When the New Afghan Government retook Kabul after a 20-year absence in August 2021, the US and Europe forbade the transfer of more than $9 billion in Afghan central bank reserves out of concern that the money would be used for terrorism by the militant group.
In response to pressure from the UN, the US initially agreed to release half of it to boost the economy, but they postponed this decision once the Taliban forbade Afghan women from enrolling in school or finding employment.
