https://sputnikglobe.com/20210927/afghanistans-banking-system-might-collapse-any-day-now-over-lack-of-cash-watchdog-warns-1089445079.html
Afghanistan's Banking System Might Collapse 'Any Day Now' Over Lack of Cash, Watchdog Warns
Afghanistan's Banking System Might Collapse 'Any Day Now' Over Lack of Cash, Watchdog Warns
Sputnik International
MOSCOW (Sputnik) - Afghanistan's banking system is at a breaking point because of a lack of cash and the economic consequences would likely be disastrous, the... 27.09.2021, Sputnik International
2021-09-27T11:14+0000
2021-09-27T11:14+0000
2022-10-19T18:49+0000
afghanistan
banking system
asia
https://cdn1.img.sputnikglobe.com/img/07e5/09/1b/1089445054_0:42:2711:1568_1920x0_80_0_0_817696063d8b5b783677f6fb1ab70b54.jpg
"Afghanistan’s economy is spiralling out of control. The formal banking system could collapse any day now because of a lack of cash. I’ve spoken to families who tell me they are surviving on tea and small scraps of old bread," Egeland said in a statement.The Afghan economic collapse is fraught with an even more deteriorating humanitarian situation where even the most basic services will no longer function, the humanitarian official said.He called on UN member states to "urgently broker a multilateral agreement" to stabilize the economic situation in Afghanistan, fund appropriate public services and address the liquidity crisis.The Afghan economy has been facing collapse since the Taliban* seized power last month, as the takeover prompted international organizations and donor countries to suspend aid and funding of humanitarian projects. The International Monetary Fund, among other financial institutions, blocked an automatic payout of $460 million and suspended the country's special drawing rights in August.*A terrorist group outlawed in Russia and many other countries.
afghanistan
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2021
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
afghanistan, banking system
afghanistan, banking system
Afghanistan's Banking System Might Collapse 'Any Day Now' Over Lack of Cash, Watchdog Warns
11:14 GMT 27.09.2021 (Updated: 18:49 GMT 19.10.2022) MOSCOW (Sputnik) - Afghanistan's banking system is at a breaking point because of a lack of cash and the economic consequences would likely be disastrous, the secretary general of the Norwegian Refugee Council (NRC), Jan Egeland, said on Monday. Egeland is on a visit in Afghanistan at the moment.
"Afghanistan’s economy is spiralling out of control. The formal banking system could collapse any day now because of a lack of cash. I’ve spoken to families who tell me they are surviving on tea and small scraps of old bread," Egeland said in a statement.
The Afghan economic collapse is fraught with an even more deteriorating humanitarian situation where even the most basic services will no longer function, the humanitarian official said.
"Dealing with the liquidity crisis is critical as aid organisations seek to scale up to meet urgent humanitarian needs," Egeland added.
He called on UN member states to "urgently broker a multilateral agreement" to stabilize the economic situation in Afghanistan, fund appropriate public services and address the liquidity crisis.
The Afghan economy has been facing collapse since the
Taliban* seized power last month, as the takeover prompted international organizations and donor countries to suspend aid and funding of humanitarian projects. The International Monetary Fund, among other financial institutions, blocked an automatic payout of $460 million and suspended the country's special drawing rights in August.
*A terrorist group outlawed in Russia and many other countries.
