{"id":1048556,"date":"2021-11-23T14:14:21","date_gmt":"2021-11-23T19:14:21","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1048556"},"modified":"2021-11-23T14:14:25","modified_gmt":"2021-11-23T19:14:25","slug":"afghan-banking-system-poised-for-collapse-after-taliban-takeover","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/afghan-banking-system-poised-for-collapse-after-taliban-takeover\/","title":{"rendered":"Afghan Banking System Poised For Collapse After Taliban Takeover"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fafghan-banking-system-poised-for-collapse-after-taliban-takeover%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1048556&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>After three months of Taliban leadership, Afghanistan\u2019s banking system is poised for collapse.<\/p>\n<p>\u201cAfghanistan\u2019s financial and bank payment systems are in disarray,\u201d says a United Nations Development Programme report provided to <a href=\"https:\/\/www.reuters.com\/business\/finance\/exclusive-un-warns-colossal-collapse-afghan-banking-system-2021-11-22\/\">Reuters<\/a>. \u201cThe bank-run problem must be resolved quickly to improve Afghanistan\u2019s limited production capacity and prevent the banking system from collapsing.\u201d<\/p>\n<p><a href=\"https:\/\/www.cnn.com\/2021\/11\/22\/investing\/un-afghanistan-banking-collapse\/index.html\">Reuters<\/a> explains:<\/p>\n<p>An abrupt withdrawal of most foreign development support after the Taliban seized power on Aug. 15 from Afghanistan\u2019s 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\u2026<\/p>\n<p>Afghanistan\u2019s 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.<\/p>\n<p>The United Nations report calls for \u201ccoordination with the International Financial Institutions\u201d \u2014 namely, the World Bank and the International Monetary Fund \u2014 \u201cwith their extensive experience of the Afghan financial system.\u201d<\/p>\n<p>\u201cWe need to find a way to make sure that if we support the banking sector, we are not supporting Taliban,\u201d said Abdallah al Dardari, who leads the UNDP in Afghanistan.<\/p>\n<p>\u201cWe are in such a dire situation that we need to think of all possible options and we have to think outside the box,\u201d he added. \u201cWhat used to be three months ago unthinkable has to become thinkable now.\u201d<\/p>\n<p>The exit of American troops from Afghanistan earlier this year permitted the Taliban to quickly overrun the nation\u2019s military and capture provincial capitals, culminating in the seizure of Kabul. Beyond its financial crisis, Afghanistan has witnessed terror <a href=\"https:\/\/www.dailywire.com\/news\/isis-k-attacks-kabul-military-hospital-killing-dozens\">attacks<\/a> and increased child <a href=\"https:\/\/www.dailywire.com\/news\/biden-left-afghanistan-taliban-took-over-now-more-families-selling-prepubescent-girls-to-keep-from-starving\">marriages<\/a>.<\/p>\n<p>During an interview with Fox News, a group of former Navy SEALs <a href=\"https:\/\/www.dailywire.com\/news\/navy-seals-torch-biden-over-afghanistan-why-dont-they-mandate-we-rescue-our-citizens\">blasted<\/a> President Biden for his handling of the withdrawal \u2014 and his failure to remove Americans from the tumultuous nation.<\/p>\n<p>\u201cIf the Biden administration is so concerned about saving American lives with these mandates, these mask mandates and so on so forth, why don\u2019t they mandate we rescue our citizens and save their lives as well over in Afghanistan?\u201d said Texas congressional candidate Morgan Luttrell. \u201cI 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\u2019s like, \u2018Who do I need to get to help me get my family over?\u2019 He spoke perfect English. Where\u2019s that at?\u201d<\/p>\n<p>\u201cI think it\u2019s really sad to see the leadership at this point seeming to be careless about taking responsibility for what was a botched withdrawal,\u201d added Florida congressional candidate Brady Duke. \u201cYou 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.\u201d<\/p>\n<p>According to the Costs of War Project at Brown University\u2019s Watson Institute, the United States federal government <a href=\"https:\/\/www.dailywire.com\/news\/americas-final-afghanistan-price-tag-2-261-trillion\">spent<\/a> $2.261 trillion on the two-decade conflict.<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After three months of Taliban leadership, Afghanistan\u2019s banking system is poised for collapse.\u201cAfghanistan\u2019s financial and bank payment systems are in disarray,\u201d says a United Nations Development Programme report provided to Reuters. \u201cThe bank-run problem must be resolved quickly to improve Afghanistan\u2019s limited production capacity and prevent the banking system from collapsing.\u201dReuters explains:An abrupt withdrawal of most foreign development support after the Taliban seized power on Aug. 15 from Afghanistan\u2019s 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\u2026Afghanistan\u2019s 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 United Nations report calls for \u201ccoordination with the International Financial Institutions\u201d \u2014 namely, the World Bank and the International Monetary Fund \u2014 \u201cwith their extensive experience of the Afghan financial system.\u201d\u201cWe need to find a way to make sure that if we support the banking sector, we are not supporting Taliban,\u201d said Abdallah al Dardari, who leads the UNDP in Afghanistan.\u201cWe are in such a dire situation that we need to think of all possible options and we have to think outside the box,\u201d he added. \u201cWhat used to be three months ago unthinkable has to become thinkable now.\u201dThe exit of American troops from Afghanistan earlier this year permitted the Taliban to quickly overrun the nation\u2019s military and capture provincial capitals, culminating in the seizure of Kabul. Beyond its financial crisis, Afghanistan has witnessed terror attacks and increased child marriages.During an interview with Fox News, a group of former Navy SEALs blasted President Biden for his handling of the withdrawal \u2014 and his failure to remove Americans from the tumultuous nation.\u201cIf the Biden administration is so concerned about saving American lives with these mandates, these mask mandates and so on so forth, why don\u2019t they mandate we rescue our citizens and save their lives as well over in Afghanistan?\u201d said Texas congressional candidate Morgan Luttrell. \u201cI 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\u2019s like, \u2018Who do I need to get to help me get my family over?\u2019 He spoke perfect English. Where\u2019s that at?\u201d\u201cI think it\u2019s really sad to see the leadership at this point seeming to be careless about taking responsibility for what was a botched withdrawal,\u201d added Florida congressional candidate Brady Duke. \u201cYou 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.\u201dAccording to the Costs of War Project at Brown University\u2019s Watson Institute, the United States federal government spent $2.261 trillion on the two-decade conflict.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1048556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1048556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1048556"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1048556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1048556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1048556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1048556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}