People put household goods up for sale as Afghanistan’s economy on the brink of collapse

by Sami Burgaz
MAZAR-I SHARIF, AFGHANISTAN – SEPTEMBER 05: After the Taliban took over Afghanistan some Afghans put their household goods up for sale in second-hand bazaars where second-hand products are sold due to the economic crisis and increasing poverty in the country.

Anadolu Agency Video News (AAVN) on Sunday (Sept. 5) videoed the density in a second-hand goods market in northern city of Mazar-ı Sharif, and household goods on sale.

The prices of food, fuel, and essential goods are rising amid uncertainty in the war-torn country as the Taliban are experiencing a cash shortage since the country’s assets are held outside the country, and the public is skeptical of the next administration’s economic policies.

Fitch Solutions, part of global credit rating agency Fitch Ratings warned that the situation will be worse if Western nations and international financial organizations continue to withhold or withdraw foreign aid.

The World Food Program’s food stocks in Afghanistan could run out by the end of September without additional funding, a top UN official warned Wednesday (Sep. 5).

Roughly one-third of all Afghans are facing food insecurity, or not knowing from where their next meal will come and more than half of all children are expected to become acutely malnourished during the next year, according to UN data.

The country’s economy which was hugely reliant on international donors that had a stake in the previous government had been struggling for years even before the Taliban.

On Thursday, the country’s central bank, De Afghanistan Bank, stated in a statement that people and moneychangers can resume normal operations.

After the Taliban captured Kabul, banks were also shuttered for more than a week while the value of the afghani currency was tumbling.

Even before the branches opened, people flocked to banks to withdraw money up to 20,000 Afghanis ($200), a weekly limit imposed by the country’s central bank.

The International Monetary Fund has already blocked Afghanistan’s access to IMF resources, including around $440 million in new monetary reserves, due to a lack of clarity on the country’s governance structure.

The US officials said the Afghan central bank’s $10 billion in assets abroad are likely beyond the Taliban’s reach. The Taliban would not be able to access any Afghan central bank assets held in the US, the Biden administration officials told foreign media recently.

The Taliban seized control of Afghanistan after taking the control of Kabul on Aug. 15, forcing the president and other top officials to leave the country.


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