Afghanistan economic fall. it needs aid2/14/2024 While the Taliban didn't directly threaten her or her family, Stanikzia says, it was the extremist group's draconian restrictions on women that forced them to leave. Many public places - including gyms and parks - are now off-limits for women. Since the Taliban's return to power in Afghanistan in August 2021, most high schools for girls have been closed, women have been prohibited from attending university, and some have been banned from working. “Apart from drugs and a little bit of mining and a little bit of production, there was not much going on without an infusion of cash by the Americans and other organizations." forced me to leave my homeland," says Stanikzia, who has two daughters and two sons and wanted her daughters to go to school. Then the economy is in deep trouble,” Schindler, who is now senior director of the nonprofit Counter Extremism Project, said. There may be “weeks, maybe a couple of months, if nothing else happens. official who worked on Taliban sanctions, said Afghanistan’s near-term economic future is dire. Hans-Jakob Schindler, a former German diplomat and U.N. “There is currently a lack of clarity within the international community regarding recognition of a government in Afghanistan, as a consequence of which the country cannot access the Special Drawing Rights (SDRs) or other IMF resources.” “As is always the case, the IMF is guided by the views of the international community,” Gerry Rice, an IMF spokesperson, wrote last week. or to the so-called special drawing rights of $450 million from the International Monetary Fund, which Afghanistan had been scheduled to receive Monday. More broadly, the Taliban have not been recognized as the legitimate government of Afghanistan, which means they cannot get access to the billions of dollars in reserve funds largely held in the U.S. For a lot of people, the focus right now is with the afghani: No one knows how this government is going to operate.” “This is not an actively sought investment, even though the writing was on the wall. “I think what we’re seeing is that capital controls are in place and if you wanted to trade the afghani, you really can’t,” said Edward Moya, a senior market analyst with Oanda, a foreign exchange currency trading firm. When asked under what conditions disbursements would resume, Sanchez-Bender declined to respond. “We are deeply concerned about the situation in Afghanistan and the impact on the country’s development prospects, especially for women,” World Bank spokesperson Marcela Sanchez-Bender said in a statement. On Tuesday, the World Bank said that it had “paused disbursements” - giving money for aid and development projects - to Afghanistan over instability concerns there. “People have cash there, and they are holding on to it.” With government employees not being paid and banks not open, even everyday commerce is hard. 17, the local currency has been relatively stable, probably because it has been practically frozen - it is now nearly impossible to move money in or out of the country. 15, trading in the afghani, the country’s currency, slumped, falling by almost 8 percent against the U.S. Shortly after President Ashraf Ghani’s government fell on Aug. Afghanistan watchers and financial experts said it is the latest sign that without further intervention from the international community, the country’s economy could suffer even more than it has in recent weeks.
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