Editor in Chief: Moh. Reza Huwaida Monday, October 22nd, 2018

US Democrats Warn Financial Crisis in Afghanistan

US Democrats  Warn Financial  Crisis in Afghanistan

KABUL - US Democrats have warned that Afghanistan would sink into financial crisis after international troops abandon the country.
Democrats in the US Senate Foreign Relations Committee published the two-year report on Tuesday night. It said stabilization programs in Afghanistan have so far had very little success. Misspent foreign aid can result in corruption, alter markets and weaken the ability of the Kabul government to control its resources, the report said.
It said the United States should make proper use of $320m spent every month to build Afghan capacity.

"Afghanistan could suffer a severe economic depression when foreign troops leave in 2014 unless the proper planning begins now," it said.
The report urges Washington to focus more on how it spends the money and how it counts on contractors.
"Transition planning should find the right balance between avoiding a sudden drop-off in aid, which could trigger a major economic recession, and a long-term phase-out from current levels of donor spending," it said.

The report said that about 80% of US funding aid to Afghanistan were spent on short-lived stabilization programs rather than long-term fundamental and development projects.
The congressional report said: "The evidence that stabilization programs promote stability in Afghanistan is limited. Some researches suggest the opposite."
About $18.8bn has been channeled to Afghanistan as part of the US international funding aid to the country over ten years. (Tolo News)