FT News Briefing Afghanistan’s economy after one year under the Taliban
Aug 26, 2022
A year after the Taliban's takeover, Afghanistan faces severe economic decline, with rising poverty and restrictions on women’s rights. The podcast explores the challenges of brain drain and commodity price spikes while questioning the Taliban's economic reforms. Additionally, a look at Revlon's bankruptcy reveals tensions between market value and debt, paralleled by mixed public feelings on student loan forgiveness amidst urgent humanitarian needs. It highlights the pressing issues affecting daily life and the economy.
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Life in Kabul Under Taliban Rule
- The FT's Benjamin Parkin visited Kabul and observed a gloomy mood one year after the Taliban's return.
- Half the population faces acute food insecurity, women's roles are restricted, and economic activity is minimal.
Economic Collapse in Afghanistan
- Afghanistan's economy, previously reliant on foreign aid, collapsed after the Taliban takeover and subsequent sanctions.
- This resulted in a dramatic contraction, widespread job losses, and increased poverty and hunger.
Taliban's Economic Approach
- While the Taliban lack economic expertise due to a brain drain, their discipline and experience in coercion could prove effective.
- The surge in commodity prices, particularly coal, has unexpectedly benefited them.