Banking System In Afghanistan In Danger Of Full Collapse Under Taliban Rule

Under the crushing weight of three months of Taliban rule, Afghanistan’s banking system is at a breaking point and about to collapse.

“Afghanistan’s financial and bank payment systems are in disarray,” stated a report from the United Nations Development Programme that was given to Reuters. “The bank-run problem must be resolved quickly to improve Afghanistan’s limited production capacity and prevent the banking system from collapsing.”

As explained by Reuters:

Very Best Bumperstickers 600 x 300

An abrupt withdrawal of most foreign development support after the Taliban seized power on Aug. 15 from Afghanistan’s Western-backed government has sent the economy into freefall, putting a severe strain on the banking system which set weekly withdrawal limits to stop a run on deposits…

Afghanistan’s banking system was already vulnerable before the Taliban came to power. But since then development aid has dried up, billions of dollars in Afghan assets have been frozen abroad, and the United Nations and aid groups are now struggling to get enough cash into the country.

The report from the United Nations also seems to call for “coordination with the International Financial Institutions,” which more accurately means the World Bank and the International Monetary Fund, “with their extensive experience of the Afghan financial system.”

“We need to find a way to make sure that if we support the banking sector, we are not supporting Taliban,” stated the leader of the UNDP in Afghanistan, Abdallah al Dardari.

“We are in such a dire situation that we need to think of all possible options and we have to think outside the box,” he stated. “What used to be three months ago unthinkable has to become thinkable now.”

The withdrawal of American troops from the country earlier this year allowed the Taliban to quickly reacquire full control of the country by quickly overrunning Afghanistan’s military and gaining control of its capitals, ending with the capture of Kabul. Looking past the financial woes, Afghanistan has seen an increase in terror attacks along with a spike in child marriages.

As part of an interview held with Fox News, a group of veteran Navy SEALs issued extreme criticism at Old Uncle Joe for how he handled the pullout of Afghanistan along with his total failure to get the Americans out of the horrid situation taking place in the nation.

“If the Biden administration is so concerned about saving American lives with these mandates, these mask mandates and so on so forth, why don’t they mandate we rescue our citizens and save their lives as well over in Afghanistan?” stated Morgan Luttrell, a Texan Congressional Candidate. “I was fortunate enough to run into an interpreter that served with us overseas for so long, in the past couple of weeks, and his family is still over there. And he pleaded with us, he begged us, he’s like, ‘Who do I need to get to help me get my family over?’ He spoke perfect English. Where’s that at?”

“I think it’s really sad to see the leadership at this point seeming to be careless about taking responsibility for what was a botched withdrawal,” tacked on Brady Duke, a Florida congressional candidate. “You know, I think that we have to, we have to understand that this was a failure, that this was a failure. And we cannot continue this way. It was deeply un-American.”

You Might Like

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.