Remittances make up nearly 4% of Afghanistan’s gross domestic product.
Western Union is suspending money transfers into Afghanistan as America withdraws troops from the troubled country now in the Taliban’s control.
The widely-seen footage of Afghans clinging to a U.S. military plane as it took off from Kabul airport was a stark image marking the close of 20 years of American intervention in the country. But the Western Union announcement is a reminder of the less-visible assistance Afghan families have been receiving via informal financial channels from family and friends abroad.
People living in urban areas like Kabul will be the ones feeling Western Union’s absence, said Vaaler, who has been studying the effects of remittances on the developing world, including Afghanistan.In rural areas, however, the informal hawala money transfer network found in Muslim-majority countries will continue on, Vaaler said.
In the big picture, remittances accounting for approximately 4% GDP may not sound like a significant number, but anything helps in the war-torn country.
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