Odd Lots A Conversation With Ajmal Ahmady, Afghanistan’s Former Central Bank Chief
Aug 23, 2021
Ajmal Ahmady, the former acting governor of Afghanistan's central bank, shares his firsthand experience during the chaotic fall of Kabul. He discusses the precarious state of Afghanistan's economy under Taliban rule, from the collapse of the banking system to the challenges of informal finance. Ahmady delves into the role of opium production and the ethical dilemmas surrounding sanctions. He also reflects on the psychological impact on bank employees, particularly women, amidst the societal upheaval, offering a stark look at the nation’s uncertain future.
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Escape from Kabul
- Ajmal Ahmady escaped Kabul on a crowded military plane after the president left.
- He didn't have a ticket and was helped by friends to board the evacuating plane.
Risk Mitigation at the Central Bank
- Ahmady focused on mitigating risks like staff safety and operational continuity amidst the Taliban's advance.
- He developed contingency plans, prioritizing the safety of central bank staff.
Central Bank Operations
- Afghanistan's central bank manages inflation and provides banking services, focusing on dollar management.
- They withdrew dollars from provinces at risk of falling to the Taliban, concerned about international partners.