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International relations

U.S. to move $3.5bn in Afghan central bank assets to trust fund

Swiss-based foundation to stabilize economy will be shielded from Taliban

Afghans receive food rations in Kabul in May. The U.S. will transfer $3.5 billion in Afghan central bank assets into a new Swiss-based trust fund that will be shielded from the Taliban and used to help stabilize Afghanistan's collapsed economy.   © Reuters

WASHINGTON (Reuters) -- The United States on Wednesday announced that it would transfer $3.5 billion in Afghan central bank assets into a new Swiss-based trust fund that will be shielded from the Taliban and used to help stabilize Afghanistan's collapsed economy.

The Afghan Fund, managed by a board of trustees, could pay for critical imports like electricity; cover debt payments to international financial institutions, protecting Afghanistan's eligibility for development aid; and fund the printing of new currency.

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