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Pak, China help of no use? Afghan banking system on verge of collapse, says UN

Published on Nov 23, 2021 05:52 pm IST

The United Nations on Monday pushed for urgent action to prop up Afghanistan's banks, warning that a spike in people unable to repay loans, lower deposits and a cash liquidity crunch could cause the financial system to collapse within months. An abrupt withdrawal of most foreign development support after the Taliban seized power on Aug. 15 from Afghanistan's Western-backed government has sent the economy into freefall, putting a severe strain on the banking system which set weekly withdrawal limits to stop a run on deposits. Watch this report for more.

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