Afghan Government Cuts Ties With IMF.

KABUL, June 21 Asia Pulse - Afghanistan's Finance Minister Hazrat Omar Zakhilwal on Monday said the Afghan government had severed its relations with the International Monetary Fund (IMF) for stopping a US$70 million payment after the near collapse of nation's largest private bank. 

Relations were cut off after the financial institution presented "politically motivated" conditions to resolve the bank problem, the minister told reporters in Kabul. 

Trouble at Kabul Bank surfaced last year, as the public discovered that the bank made hundreds of millions of dollars in questionable loans to shareholders, including the elder brother of President Hamid Karzai. Some used the loans to buy luxurious mansions in Dubai, United Arab Emirates.

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