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Wed, 03 September 2014 16:00:36
Afghanistan grows 12-pct, inflation 6-pct: IMF
05 Feb, 2013 08:50:07
Feb 05, 2013 (LBO) - Afghanistan's economy is estimated to have grown at a blistering 12 percent rate in 2012 helped by lower inflation of 6 percent and a good harvest, the International Monetary Fund said.
The IMF has an extended credit facility (ECF) program in Afghanistan and a team had conducted a combined second and third review from January 19 to February 02.

"Discussions focused on maintaining macroeconomic stability and structural reform momentum in 2013," team leader Paul Ross said in a statement.

"On the budget, there was agreement on the need to restore momentum to revenue mobilization through measures to strengthen customs administration.

"Second, it was agreed that some tightening of monetary policy was appropriate to maintain price stability and protect the international reserves position.

"Third, there was agreement on reforms to strengthen the financial sector and economic governance, and to mobilize domestic revenue."

Afghanistan was expected to submit a value added tax law to parliament and also fix Kabul Bank.

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READER COMMENT(S)
5. Cool Feb 08
Afganistan December inflation 5.8%. Has been single digit for some time. Food Items, accounting for 61.3 percent of total CPI and Non-Food Items making up the remaining 38.7 percent.
4. Niro Feb 07
Afgani has gone through a wild ride over the last two decades. Multiple parties were flooding the market with Afganis - by late 1990's the exchange rate hit 43,000 Afgani per USD.

New Afgani was issued in 2002 (replacing the old Afgani) to stabilize the currency with a floating exchange rate. Now it stands at 51 per USD partly due to high influx of dollars to the economy.

3. kawdaboy Feb 07
@tariq
Yup. The Afghani is trading at about 50 to the $1 USD in a counrty where ragtag taliban on toyota pickup trucks with AK47 rifles is taking on the might of NATO and US Military. Makes one think who has the better monetary authority, us or them?
2. tariq Feb 06
@kawdaboy
And unlike Sri Lanka bombs are still going off in Afganistan.
1. kawdaboy Feb 05
Gues who's the Miracle of Asia!