Afghanistan Faces Cash Shortage Under Taliban

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Bloomberg Quicktake: Now published this video item, entitled “Afghanistan Faces Cash Shortage Under Taliban” – below is their description.

Frozen foreign exchanges and a paralysed state budget in Afghanistan threatens cash shortages for currency exchangers in Kabul

“All our cash is at the banks,” but “the banks cannot pay the cash back to money exchangers on time,” said Mohammad Tahir Qaderi, a member of money exchangers’ union.

The Taliban lack access to billions of dollars from their central bank and the International Monetary Fund that would keep the country running during a turbulent shake-up.

The United Nations development agency announced last week Afghanistan is teetering on the brink of “universal poverty” which could become a reality in the middle of next year unless urgent efforts are made to bolster local communities and their economies.

It said the Taliban takeover of Afghanistan has put 20 years of steady economic gains at risk.

The U.N.’s World Food Program says Afghans are growing increasingly short of cash to buy food, the majority of which – like wheat flour – is imported.

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    Afghanistan, officially the Islamic Republic of Afghanistan, is a landlocked country at the crossroads of Central and South Asia. Afghanistan is bordered by Pakistan to the east and south; Iran to the west; Turkmenistan, Uzbekistan, and Tajikistan to the north; and China to the northeast.

    Occupying 652,000 square kilometers (252,000 sq mi), it is a mountainous country with plains in the north and southwest. Kabul is the capital and largest city. The population is around 32 million, composed mostly of ethnic Pashtuns, Tajiks, Hazaras, and Uzbeks.

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    The Taliban or Taleban, who refer to themselves as the Islamic Emirate of Afghanistan, is a Deobandi Islamist movement and military organization in Afghanistan, currently waging war within the country. Since 2016, the Taliban’s leader has been Mawlawi Hibatullah Akhundzada.

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