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Daily life under the Talibs: economy to shrink 30%, exchange rate now 90 Afghanis to $1, Kazakhstan sends flour, road building ends
 IMF predicting 30% shrink in Afghanistan’s economy after Taliban takeover [KhaamaPress] International Monetary Fund in its latest regional economic report said that the gross domestic products of Afghanistan could see a 30% contraction after the Taliban took over the country and foreign aids halted. Officials in IMF say that Afghanistan’s situation was deteriorating even before the Taliban enter Kabul and add that COVID-19 and drought are among the factors that will cause the sharp contraction in the economy. After the Taliban takeover on August 15, non-humanitarian aids stopped in Afghanistan, foreign assets have been frozen, people lost their jobs, and banks are struggling with a limited amount of cash. Price of Goods Rise, Value of Afghani Falls [ToloNews] The dropping in value of Afghanis against the dollar has greatly reduced business in the markets. According to the money exchangers, recently the smuggling of dollars has also caused problems in the markets. Currently, one dollar is exchanged for about 90 Afghanis in the Kabul market. At the same time, Afghanistan annually imports goods which cost 8.5 billion dollars and to buy these goods they use dollars. “Afghanistan is one of those countries that relies on other countries' imports and we need dollars to buy goods and that is why the Afghani is losing its value in currency markets,” said Haji Zirak Zirak, the spokesperson of the money exchangers union in Kabul. Kazakhstan Sends 4,000 Tons of Flour to Aid Afghan People [ToloNews] Local officials at northern Balkh province said Monday that Kazakhstan has provided more than 4.000 tons of flour as humanitarian aid to Afghanistan. Abdul Latif Haqani, head of the National Disaster Management department in Balkh province, said It came across the border at Hairatan, and that the aid will be distributed to vulnerable and needy families. The country will reportedly send 42 more containers of flour to Afghanistan in the future. “28 containers of Kazakhstan’s flour reach the Hairatan border crossing, which we are unloading now,” said Abdul Wodod Qani, Head of Hairatan's port service. Taliban road construction projects stall without foreign funding [DW] The Taliban have boasted that they will begin fixing Afghanistan's crumbling roads, but work cannot move forward without the now suspended foreign aid payments that kept former projects afloat. Posted by: trailing wife 2021-10-20 |
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