Afghanistan is 'weeks to months' from economic collapse, experts say

[Yo_Mama_Been_Loggin]

Afghanistan’s economy is headed toward collapse without swift action from the international community, experts have warned.

The country’s cash-based economy was struggling before the Taliban’s recent ascension, and the Islamic movement’s sudden takeover has left the country’s finances in limbo — with assets frozen, banks closed and crucial foreign aid stalled.

There’s little faith that the hard-line Taliban will be able to turn things around. The Afghanistan Banks Association announced Monday on Facebook that the Taliban had appointed Haji Mohammad Idris as the acting governor of the central bank.

Gul Maqsood Sabit, a former deputy finance minister, said he had never heard of Idris.

“Not at all,” said Sabit, who lives in California and works as a lecturer at a community college. “This person is someone who served on the Taliban Economic Commission. He was a teacher in a [religious school] in Pakistan, and that’s where he came from, so that’s all that we know about this person, and now he’s managing the central bank. He probably has no experience at all.”

https://www.msn.com/en-us/news/world/afghanistan-is-weeks-to-months-from-economic-collapse-experts-say/ar-AANIYhW

Sounds like a Trump appointee.

[we can do it]

1. I really don't care. I'm out of fucks to give stupid people.

[Thomas Hurt]

2. Trump and Pompeo did appoint the Taliban with the Doha Agreement.

Perhaps the best thing that can happen is the Taliban fail completely and the moderates (for Afghanistan) rise up and drive them out.

[ProudMNDemocrat]

3. Malcom Nance said yesterday

That to keep the Taliban in line is for the US snd their allies to starve them financially. Yes it hurts the people. It hurts the Taliban even more. Sanctions do work.

[Silent3]

4. Gee, who would have imagined...

...that the Taliban wasn't full of people with great financial, logistical, and managerial skills, ready to seamlessly transition themselves into the important positions of people who have either fled, or who will now be persecuted by the Taliban?

[MichMan]

5. Speculation is that China will take care of them

[SoCalDavidS]

7. Don't Forget Russia nt

[jimfields33]

8. China is a huge threat for the future.

Russia is an annoying knat in comparison.

[Elessar Zappa]

12. Possibly but I doubt it.

What’s in it for them?

[Raine]

13. Possibly Rare Earth Minerals I believe is what I've heard. If so it's

a big deal.

[Klaralven]

6. Maybe in Kabul. In the rest of the country cash, barter, and hawala are the core of business deals.

10% of the population are thought to have bank accounts.

https://www.nbcnews.com/business/afghanistan-weeks-months-economic-collapse-experts-say-rcna1758

[littlemissmartypants]

9. More than half of all transactions involve hawala brokers.

snip...
Most of the country's economic activity is informal, and data provided by the Ministry of Finance suggest that only 35 percent of the financial flows within the country are legal. Unregulated cash transactions and remittances through the country's traditional money transfer system, a network of brokers known as hawala, are the rule. According to the Financial Action Task Force, an international anti-money-laundering body, more than half of all transactions in Afghanistan involve hawala brokers.

https://www.foreignaffairs.com/articles/afghanistan/2016-09-07/dirty-money-afghanistan?utm_medium=promo_email&utm_source=lo_flows&utm_campaign=registered_user_welcome&utm_term=email_1&utm_content=20210821

[dalton99a]

10. The Taliban will unleash a flood of refugees to the West if reserves are not unfrozen

Just watch

[former9thward]

11. How?

Afghanistan is a land locked country. None of its neighbors are "Western" countries.