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Th
on November 22, 2021
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Afghan Banks on Verge of "Colossal" Collapse - UN Warns
The nation's financial system is under threat without urgent assistance, as warnings are issued by the United Nations over a cash liquidity crunch and people unable to pay back loans. (Reuters)
The abrupt withdrawal of foreign development support - compounded by sanctions - has left the Taliban with a banking disaster on its hands, according to experts.
Billions of dollars in Afghan assets have been frozen abroad, with the UN proposing short- and medium-term measures to stave off the "unthinkable."
The UN previously warned the move would further fuel a refugee crisis, as it claims banks in Afghanistan may not survive the next six months.
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