Wednesday, Jan 19 2022 | Time 03:56 Hrs(IST)
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World


Urgent measures needed to restore Afghanistan's chaotic financial system: UN

Kabul, Nov 22 (UNI/Sputnik) The problem of financial and bank payment systems in Afghanistan, which are currently "in disarray", must be resolved quickly to minimise negative impacts on the population, according to a new situation report published by the United Nations Development Program on Monday.
"Afghanistan's financial and bank payment systems are in disarray. The bank-run problem must be resolved quickly to improve Afghanistan's limited production capacity and prevent the banking system from collapsing. Furthermore, protecting, at a minimum, some of the commercial banking system is also critical to continue the humanitarian and other basic human needs programs, supported by the UN, NGOs, and bilateral partners," the report said.
According to the document, in case of failure, the country will face far-reaching negative social and economic consequences.
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