link : How Will A Taliban Government Pay The Bills?
How Will A Taliban Government Pay The Bills?
FILE PHOTO: File picture of members of a Taliban delegation leaving after peace talks with Afghan senior politicians in Moscow, Russia May 30, 2019. REUTERS/Evgenia Novozhenina/File Photo
Safehaven.com/OilPrice.com: How Will The Taliban Finance Afghanistan?
Once the excitement of taking over a country settles, such as checking out the presidential gym and enjoying some fun on bumper cars, Afghanistan’s new Taliban authorities will face the same issues any other government will: how to finance the country.
Following the Taliban's takeover of the country last weekend, many international financial institutions have blacklisted the new government, and the currency is in freefall.
On Thursday, the International Monetary Fund (IMF) decided that Afghanistan would no longer be able to access its resources.
The lender said that resources of over $370 million had been set to arrive later this month. The funds were approved last November and intended to support Afghanistan’s recovery from the Covid-19 pandemic, anchor economic reforms, and spur donor financing.
An IMF spokesperson said it was due to "lack of clarity within the international community" over recognizing a government in Afghanistan.
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WNU Editor: They cannot pay the bills, and they will not have access to credit markets. Good luck on trying to finance their government budget.
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