[Shadow_Group] Afghanistan's economy

[shadowgroup-l at lists.resist.ca]

Afghanistan's economy
Nov 19th 2004 
>From Economist.com

FROM:
http://www.economist.com/research/backgrounders/displaybackgrounder.cfm?bg=1010697<http://www.economist.com/research/backgrounders/displaybackgrounder.cfm?bg=1010697>
Afghanistan is one of the world's poorest countries.
Though it acquired a new currency in October 2002, its
banking system is under-developed and its central
government raises a pathetic amount of revenue. War,
earthquakes and drought have left its infrastructure
in ruins and many Afghans (millions of whom have
returned from abroad) mainly dependent on foreign aid.

Agriculture is the largest sector of Afghanistan's
economy and the source of livelihood for most of its
people. Banned, with astonishing success, by the
Taliban in July 2000, opium cultivation has returned
with a vengeance since their ouster. Hamid Karzai, the
president, is struggling to build alternative
industries, such as carpet-making and the production
of dried fruit.

Afghanistan also has untapped hydrocarbon and mineral
resources, but there has been little foreign
investment in them. In January 2002 rich countries
promised the country's government $4.5 billion over
five years to fund rebuilding efforts (some, but not
all, was doled out). Another $4.5 billion was promised
in March 2004. Hamid Karzai's government is banking on
a surging private sector. Yet without new thinking,
Afghanistan will fail again.



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