The Taliban are in control of Afghanistan for the first time in 20 years. But while they no longer have any military opposition, they now face an economy on the brink of collapse, which threatens to worsen an already devastating humanitarian crisis.
When the militant group seized power on 15 August, Afghanistan’s internal banking system froze up. Long queues have formed outside banks, many of which are closed, and ATMs that aren’t dispensing money. With limited access to cash, people are becoming increasingly desperate. The economy was already extremely fragile, heavily dependent on aid. A nation is considered aid-dependent when 10% or more of its gross domestic product (GDP) comes from foreign aid; in Afghanistan’s case, about 40% of its GDP was international aid, according to the World Bank.
(BBC)
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