FROM THE OFFICE OF PUBLIC AFFAIRS

Statement by John Taylor, Under Secretary of the Treasury for International Affairs, after meeting with Finance Minister Ghani and Central Bank Governor Ahady.

I had a good meeting with Minister Ghani and Governor Ahady to discuss their plans for the currency conversion.

The introduction of the new Afghani will help re-establish Afghanistan as a full participant in the international economy.  The Afghan government has demonstrated the leadership necessary to succeed in this endeavor.

The introduction of the new Afghani will allow the central government to determine the exact amount of money in circulation, permitting responsive monetary policy. 

The new Afghani will also help prevent counterfeiting and decrease the use of foreign currencies in Afghanistan.  With its range of denominations, this currency will make purchases, large and small, more practical.

The United States and other international donors will continue to offer support and advice to Afghanistan as it implements sound policies to support the new currency.