Nearly 50% of Afghans Live in Poverty
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The official unemployment rate in Afghanistan is 11.7%, while 34.3% of those who are working make less than $1.90 per day.
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Taliban fighters standing on the roadside in Kabul, Afghanistan - August 18, 2021 (AFP).
The US Al-Monitor website reported that Afghanistan is one of the world's most fragile, at-risk economies. According to the World Bank, poverty in Afghanistan is endemic, just as underdevelopment, due to long-term, high-intensity conflict.
All of this was prior to COVID-19. Other countries on this short, grim list include the Central African Republic, Libya, Somalia, South Sudan, Syria, and Yemen.
Afghanistan's population is around 37 million, 46% of which are no more than 15-years-old, meaning that nearly half of the population does not remember the Taliban's previous rule.
The last time the Taliban emirate ran the country, Afghanistan had no internet. Today, the population, especially in urban areas, is aware of its surroundings and is connected to the rest of the world - which could be a source of stress or instability, especially given the economic status quo.
The International Monetary Fund June report drew up a concerning economic picture: "The pandemic has imposed a heavy socioeconomic toll and forced thousands into poverty, set back progress toward self-reliance, and caused a permanent output loss," the IMF reported.
In response to US pressure, the IMF suspended Afghanistan's access to $440 million in new monetary reserves after the Taliban's takeover.
The site also reported that "Afghanistan's fragile economic progress — a projected 2.7% growth rate for 2021, after a 2% decline in 2020 — could be at risk under the Taliban."
