Sun, August 14, 2022

The Taliban Control the Afghan Economy – Highlights

The Taliban Control the Afghan Economy – Highlights

Kabul fell, the Taliban occupied Afghanistan, parliament was invaded, and the country’s president and several citizens were forced to flee. The situation is only getting worse.

Establishing control of Afghanistan by the Taliban could expand the stockpile. Moreover, armaments could threaten the Afghan people and global security.

While working on illicit finance issues for years, Afghanistan has made a priority list to address significant threats, including money laundering, drug trafficking, terrorist financing, corruption, and the avoidance of economic sanctions.

The Afghan Economy faced devastation from international donors as a result of forty years of war. They provided 75 percent of the government budget and the heroin trade. According to the World Bank, the illegal Economy accounts for a significant share of exports, employment, and production. Many people employed in the Afghan private sector are associated with smuggling and presumably with the heroin trade. Afghanistan’s two most giant neighbors, Iran and Pakistan, have been helping to resolve all of this.

The Taliban control customs and border crossings along with banks. The grouping is entirely free, along with an increase in methamphetamine production, to strengthen the heroin and opium trade taxation. In addition, the Taliban is using the captured weapons, which are part of the ninety-two billion U.S. dollars, to help Afghan government forces.

According to the latest news from the Treasury Department, the Taliban has maintained strong ties with al-Qaeda and continues to hold regular meetings. In fact, this is one of the preconditions for strengthening al-Qaeda.

What will be the U.S. Strategy?

It is still unknown how the U.S. government or other international partners will engage with the Taliban. There are several steps the U.S. can take quickly to limit access to the Taliban capital as soon as possible.

The U.S. government must first ensure the foreign reserves of the Afghan people. This will help ensure that the Taliban does not have access to these funds. According to the Washington Post, the Treasury Department took an essential step in freezing assets in the U.S.

Also, the interagency group, which includes the Departments of Defense, Justice, Treasury, State, and International Development, should develop a plan to enforce existing U.S. economic sanctions. According to this, the Americans will become banned from any deal with the Taliban.

The Treasury Department should immediately work with international organizations such as the World Bank, the International Monetary Fund, the Asian Development Bank to evaluate ongoing aid projects.  And to make sure they are helping the Afghan people and not a threat to the Taliban.

The U.S. government needs to develop a strategy to hold the Taliban accountable for fulfilling Afghanistan’s international obligations. If a group refuses to fulfill this obligation, the United States should consider the matter and take appropriate steps to address the deficiencies.


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