Hundreds queue at Kabul bank amid looming cash crisis in Afghanistan
Hundreds of Afghan locals lined up at a bank in Kabul to withdraw money amid a looming cash crunch in Afghanistan.
Residents were seen gathering outside a bank in the neighbourhood of Mirwais Maidan west of Kabul City on September 15. Cash is still hard to come by despite the reopening of banks after the Taliban takeover on August 15. Financial institutions have imposed a weekly withdrawal cap of 20,000 AFN (roughly 232 USD) per person.
Afghan families have resorted to selling their possessions in order to feed themselves, according to a report on Al Jazeera.
The World Bank and the International Monetary Fund have already cut off cash aid to Afghanistan after the Taliban rose to power.
Meanwhile, the United Nations (UN) held a high-level conference in Geneva earlier this week to discuss the impending collapse of Afghanistan’s economy. Donors have pledged more than $1.2 billion to help the millions of Afghans facing a looming humanitarian crisis.
UN Secretary-General Antonio Guterres said: ‘The people of Afghanistan need a lifeline.
‘After decades of war, suffering and insecurity, they face perhaps their most perilous hour. Now is the time for the international community to stand with them. And let us be clear, this conference is not simply about what we will give to the people of Afghanistan. It is about what we owe.’