Afghanistan’s economy had a “positive” period in the last nine months of 2022, according to a report by the World Bank. The report, published on 25 January, states that inflation dropped to 9.1 percent in November, from its peak of 18.3 percent in July.
From January to November 2022, Afghanistan exported $1.7 billion worth of goods to Pakistan (65%) and India (20%). In 2021, Afghanistan exported $0.9 billion worth of goods, and in 2020, the figure was $0.8 billion. However, from January to June 2022, the country imported $2.9 billion worth of goods.
The Taliban, the report says, earned 135.9 billion AFN ($1.54 billion) in revenue between March and December 2022, thanks to increases in price of coal exports. And the country’s exchange remained stable against major currencies.
“In the absence of regular market interventions, the Taliban continues to exert controls in the foreign exchange market to manage parity and liquidity, such as regulating the money service providers sector and prohibiting foreign currency-denominated domestic transactions.” the report said.
Cash withdrawals of pre-August 2021 deposits from banks continue to be regulated and financial institutions, the World Bank said, face difficulties honouring withdrawals. Civil servants’ salaries, according to the report, were paid on time. Although women faced difficulties in withdrawing their salaries.
According to the UN, 97 percent of Afghanistan’s population live in poverty, of whom 28 million are dependent on aid for survival, with 6 million being on the verge of famine.