September 24, 2021
Economy

Taliban name acting head of central bank as economic turmoil grows

The Taliban have appointed an acting head of Afghanistan’s central bank to help ease growing economic turmoil, more than a week after the Islamist movement seized the capital Kabul, a statement said on Monday.

Haji Mohammad Idris was named as acting governor of the bank to help bring order to a war-crippled economy, which has been adrift for more than a week with banks closed and many government offices empty.

He was expected to help organise institutions and address the economic issues facing the population, a statement from Taliban spokesman Zabihullah Mujahid said.

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Afghanistan’s lenders would likely require central bank support to manage afghani and U.S. dollar liquidity once they reopen, said a senior Afghan banker, who asked to remain anonymous.

“If this uncertainty remains, then customers will withdraw more funds and banks would need bigger support from (the central…

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