Geldcast update: Afghanistan is running out of cash
Afghanistan is running out of foreign cash, with potentially catastrophic consequences for the population. In a recent editorial, the New York Times proposed the release of some of the blocked Afghan central bank money. What difference would that make? How did this situation get so bad?
Afghanistan’s economy has crashed and the population is facing widespread hunger since the Taliban seized power five months ago. Billions of dollars in Afghan central bank reserves and international development aid were frozen to prevent it from falling into Taliban hands.
The economy has ground to a standstill due to the lack of foreign cash. Wages are no longer being paid and food is becoming more and more expensive. Aid groups and international agencies estimate about 23 million people, more than half the country, face severe hunger and nearly 9 million are on the brink of starvation.
Why is cash so scarce in the central Asian country? And what could the international community do to improve the situation? In the latest Geldcast update, Nadia Qadire, a student at the University of Bern and Afghanistan expert, gives an assessment of the current economic situation.
From stock exchanges and bitcoin to inflation and monetary policy – the Geldcast update features the latest from the world of international finance. Clear and entertaining for everyone who wants to stay up to date. The podcast is hosted by monetary economist and business journalist Fabio CanetgExternal link
Subscribe to the Geldcast update in English on YouTubeExternal link. And you can find many more episodes in German on iTunesExternal link, SpotifyExternal link, or wherever you get your podcasts.
Author Fabio Canetg completed his doctorate in monetary policy at the University of Bern and the Toulouse School of Economics. Today he is a lecturer at the University of Bern.
As a journalist, he works for SRF Arena, Republik Magazin and SWI swissinfo.ch. He hosts the monetary policy podcast “Geldcast”.
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