In their excitement at taking Afghanistan as its own, the Taliban may have forgotten that once they were in charge, they would have to run the country.
That is not the exciting part, but it is the boring part that comes after the exciting part of a political take over.
They have to build and preserve the infrastructure and make it possible for the people to be clothed, fed, and housed. After years of enjoying what parts of the 21st Century the population had been allowed to under what everyone thought would be the country they would live in into the foreseeable future, bringing it all back 100 years will not go over well.
The Taliban have met reality, and it is not their friend.
When the legitimate government collapse, its money, all $10 billion of it in the central bank, Da Afghanistan Bank, and other international banks was frozen, with much of it being held at the Federal Reserve Bank in New York, and this has left the Taliban without sufficient funds to run the country they were so happy to take over.
The Taliban’s finance ministry’s spokesperson, Ahmad Wali Haqmal, complains that,
“The money belongs to the Afghan nation. Just give us our own money. Freezing this money is unethical and is against all international laws and values.”
Suddenly international laws and values mean something.
Because most of that 10 billion is in the U.S. federal bank, what there was of it in Afghanistan’s central bank is running out according to Shah Mehrabi, a board member of Afghanistan’s central bank.
The “situation is desperate and the amount of cash is dwindling.”
Since they are in charge of a country and need to keep things up and running, they have had to turn to people outside the Taliban to get things done, and this costs money.
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The Federal Reserve Bank of New York has not said how much money it holds as a matter of policy but it has been speculated that between it and the Euros and Pounds kept elsewhere and what is held in the Bank for International Settlements based in Switzerland, most of the billions, about 7 billion of it, is out of the reach of the Taliban.
President Joe Biden’s administration froze the assets immediately after the legitimate government ran away and the country collapsed, and one official has stated,
“Any Central Bank assets the Afghan government has in the United States will not be made available to the Taliban.”
With winter coming on and with a government that might be great fighters but have little if any expertise running countries it is expected that as many as 22 million Afghans will experience food and heat in security.
The Taliban could end up facing what they might not have anticipated. They may be in charge now, but that many cold and angry people could seriously threaten the way they want their country to run.
In order to get to their money, the finance ministry has promised that if the money is “returned” to them it would respect the education of women and human rights.
It might not be a good pitch, though, as their word seems to not have been all that reliable in the past.
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