IMF recommends troubled Kabul Bank be wound down
ADAM SCHRECK The Associated Press KABUL, Afghanistan – The International Monetary Fund is pushing for Afghanistan’s troubled Kabul Bank to be placed into receivership and then quickly sold off as part of a broader effort to stabilize the country’s shaky financial system. The IMF made the recommendations Tuesday after a visit by fund officials to assess the Afghan economy and work through an impasse over extending Kabul further credit. It urged Afghan officials to put together a “transparent, credible and fully financed” plan to settle problems at the country’s largest bank, which came close to collapse last year after allegations of mismanagement, cronyism and questionable lending. The…
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IMF recommends troubled Kabul Bank be wound down
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on February 16, 2011. Filed under
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