Democracy Dies in Darkness
Economic Policy

More than 40 House Democrats urge Treasury Department to unfreeze Afghanistan’s bank reserves

The lawmakers warned of a humanitarian collapse if the Biden administration didn’t help unlock funds to the country, which is under control of the Taliban.

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Updated December 20, 2021 at 11:14 a.m. EST|Published December 20, 2021 at 7:00 a.m. EST
Treasury Secretary Janet Yellen at the Freedman Bank Forum in the U.S. Treasury Building in D.C. on Dec. 14. ( Ken Cedeno/EPA-EFE/REX/Shutterstock)
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More than 40 House Democrats on Monday called for Treasury Secretary Janet Yellen to unfreeze Afghanistan’s central bank reserves, which the administration seized after the Taliban took control of the country this summer.

In a letter to both Yellen and President Biden, the group of lawmakers said that failure to relax international restrictions on Afghanistan’s banking system risks creating “economic pain and humanitarian collapse,” as fears mount that a crumbling economy will spur a new refugee and hunger crisis.