Kabul: The weak Afghan economy has swooped after the takeover of Kabul Taliban last month, according to many reports.
Immediately after the siege of Kabul Taliban on August 15, foreign aid was immediately frozen.
In addition, the US stopped USD 9.4 billion reserves to the country’s central bank, the New York Post reported.
In addition, the International Monetary Fund and the World Bank have also stopped loans, and the financial action assignment unit warned 39 member countries to block Taliban assets.
People’s score has been seen waiting in a long line to attract their savings since the Taliban took over in August.
The Afghan Bank asset freezing report by the US and the termination of funds announced by international institutions has triggered concern among Afghans.
“With many international communities that refused to recognize the Taliban regime, officially called the Afghan Islamic Emirates, cash almost did not drip,” Hollie McKay wrote at the post.
McKay said that the currency had collapsed and the morphing financial crisis quickly became a humanitarian disaster.
According to other experts, the informal economy is probably the only way for Afghanistan, including a new government, to survive.
According to posts, the Taliban himself mainly relied on the hawala to survive during their rebellion.
In the midst of a deteriorating economic situation in the country, the United Nations has promised more than USD 1 billion for Afghan assistance, warning that the majority of the population can immediately drop below the poverty line.
Muhammad Suleiman bin Shah, Deputy Minister of Trade and Industry in the last Afghan government said the country had a fragile economy before takeover.
“Even though there is a lot of money (foreign) thrown, very little time or attention is given to economic and economic development in the last 20 years,” said Bin Shah.
“Most money is spent on security and political problems.
And now, we are communicating anything in terms of trade and finance with the whole world.
Whatever the process begins, even if they move with the speed of the snail, they have stopped.”
Afghanistan on the verge of economic destruction as a cash crisis continues
