Friday, 03 December 2021 06:39 GMT

Afghanistan's economy on the brink of collapse, banks run out of cash: Norway

(MENAFN- Khaama Press)

The Secretary-General of the Norwegian Refugee Council Jan Egeland who is currently visiting Afghanistan said that Afghanistan is on the countdown to economic collapse.

The Secretary-General in a statement said that the formal banking system could collapse any day now because of a lack of cash.

“If the economy collapses, even the most basic services will no longer function, and humanitarian needs will soar even higher. Dealing with the liquidity crisis is critical as aid organizations seek to scale up to meet urgent humanitarian needs.” Reads the statement.

Egeland has called on the international community to provide the people of Afghanistan with urgent humanitarian assistance as the winter is approaching and this will make the lives even difficult for those who are have been displaced and living on the streets.

In the meantime, UN member states must urgently broker a multilateral agreement to stabilize the economy of Afghanistan, fund appropriate public services and address the liquidity crisis.

The calls on the international community come as the Taliban have not been recognized yet and the freezing of billions of dollars of Afghanistan will lead to both economic and humanitarian crises in the country.


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