Afghanistan's economic crisis escalates, people throng banks for cash withdrawal

The economic crisis is worsening in Afghanistan following the Taliban's rapid takeover in recent weeks. Hundreds of Afghans protest and formed long queues outside a bank in Kabul in hope of withdrawing cash. This development comes at a time when a UN agency has warned that the deteriorating drought condition in the war-torn nation could leave millions in need of humanitarian aid.

According to AP, the demonstrators at New Kabul Bank including several civil servants demanding their salaries, which they claimed that hasn't been paid for the past few months. Even though banks have opened no one has been able to withdraw cash, they alleged. ATM machines are working but withdrawals have been limited to around $200 every 24 hours, resulting in long lines.

Afghanistan remains heavily dependent on foreign aid, which covers nearly 75% of the war-ravaged country's budget. The Taliban leaders have said that they want to keep a good relationship with the international community and have assured a more open and moderate form of Islamic rule than their previous regime.

Even after the blasts rocked Kabul airport on Thursday, thousands of Afghans are still gathering in the hope to flee the country and avoid Talian's hardline Sharia laws. The massive evacuation drive led by the United States, with many foreign countries having already wrapped up their evacuation efforts, will wind down on the August 31 deadline.

A United Nations agency has warned that the worsening drought in Afghanistan will further threaten the livelihoods of over seven million people. 

A United Nations agency has warned that the worsening drought in Afghanistan will further threaten the livelihoods of over seven million people. The Food and Agriculture Organisation also stated that Afghans are suffering from the COVID-9 pandemic and displacement from the recent developments. The UN World Food Programme, earlier this month, had estimated that around 14 million people urgently need food assistance.

Taliban's reemergence

Following the US decision to withdraw troops from Afghanistan, the Taliban has quickly risen to power. When the insurgents' last government from 1996 to 2001, they imposed harsh laws, which confined women to homes and banned television and music.

This time, the Taliban have said that they will be allowed women to work and girls to attend schools. But even as its leadership has struck a moderate tone, there have been multiple reports of human rights abuse in Taliban controlled areas.

(Image Credits: PTI)