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The depreciation of Afghani

Afghani has lost its value by 11pc against American dollars and Pakistani rupee during the past four months. This depreciation has caused prices of commodities surged by 18pc and fuel by 40pc. Over the years, Afghani has seen a steadiest fall, but during the past few months, it faced a freefall, which triggered inflation and prices of commodities skyrocketed. As the prices of commodities are soaring, property and housing industry has plummeted.

One is left in shock to see how Afghani is on the decline and security is deteriorating under the leadership of an erstwhile World Bank technocrat, finance minister and a top security official before assuming office of the president. This situation is disappointing as this is happening under the leadership of such a man who had an international career in an international monetary body, but at home he is failing to cure the economic challenges. Unarguably, the past few months have pushed the entire nation in a whirl of extreme hopelessness.

Appallingly there has been mayhem in every nook and cranny of the country. Insecurity is soaring. The economic challenges have brought the country to its knees. Violence has already made deep inroads. Now this troubled nation has been facing a nerve-wrecking situation. Given that the crisis catches further length, it will give birth to too many other challenges. International forces have already wrapped up their combat mission. There has been a deepening stagflation. It has discouraged both domestic and foreign investment. No new investments are done.  Illegal trade in bordering areas and smuggling of natural resources has been impinging on national economy. And to our dismay, signs of reforms are visible nowhere. Who will at last fix the national economy, and security?

The current crisis raises critical challenges for the US, Europe besides the government of Afghanistan and this troubled nation in dealing with the probable implications as it is a robust national economy that can guarantee success against the monstrous challenges of terrorism. Our national economy witnessed the jolts following the massive cuts in the US and ISAF military expenditures as combat forces started withdrawing. International aid also declined. And when a national unity government was formed following the troublesome 2014 presidential elections, the two leaders of the government didn’t get along well from the very beginning. in such a situation the decline of Afghani was destined.

Since most of the people live in the country know that conflict and political fragility are interlinked, which is why we cannot downgrade that the current situation, if prevails, will unleash political instability, conflict, and fragility. Now the need is compromise and expediency instead of clinging to prevailing condition and obduracy. The problem is the longings of this war-weary and peace-loving nation have been strangled as nobody asks that what does this nation want. Resultantly problems are becoming more complex instead of showing signs of subsiding.

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