Wednesday, July 27, 2011 – According to World Bank officials, Afghanistan will face economic challenges and may face economic fall down if there is a reduction in international aid.
In an article written by Robert Zoellick, Head of the World Bank and published by Washington Post says, the current economy in Afghanistan depends on the military spending and external aid, and the drawdown process puts in country’s economic at a high level of risk.
Mr. Zoellick’s article further adds, raising economy is one of the basic needs and in the last decade the Afghan economy was mostly reliant on foreign aid.
The article also states, from 2010 to 2011 all military spending in Afghanistan reaches to $100 billion while more than $15 billion has been donated by International community and have had direct impact over individual incomes.
International community should take take responsible decisions about their financial aid to Afghanistan, Mr. Zoellick urges the international community in his article.
Mr. Zoellick said, “International community should consider the problem and should try to organise their expense in order to prevent any possible fall down. Considering the financial limitations of the international community, Afghan government needs a practical and effective mechanism so that Afghans could make use of each single dollar.”
In the meantime, the World Bank stresses on the flow of financial aid through the Afghan government.