23 August 2021
A developing economic crisis in Afghanistan is adding a fresh layer of turmoil in the country.
Why it matters: “[T]he value of the Afghan currency could collapse, inflation could accelerate and the mix of violence and chaos could be prolonged,” the AP writes.
What’s new: Wire-transfer services Western Union and MoneyGram stopped facilitating payments into Afghanistan, a flow of money that’s “a key source of support for many Afghan families,” the Wall Street Journal reports.
- The backdrop: ATMs are running out of cash. Prices for a range of essentials like flour and oil are rising sharply.
The big picture: The country’s economy has relied on foreign aid that’s at risk of shriveling up with the Taliban takeover.
What to watch: The Taliban appointed Mohammad Idris — “an obscure official” — as acting head of Afghanistan’s central bank, charged with steering monetary policy, Bloomberg reports.
The afghani, the country’s currency, is in freefall. For a place that facilitates trade in U.S. dollars, any imports will get more expensive.
- What they're saying: “If the Taliban don’t get cash infusions soon to defend the afghani, I think there’s a real risk of a currency devaluation that makes it hard to buy bread on the streets of Kabul for ordinary people," the Overseas Development Institute’s Graeme Smith tells the AP.
The bottom line: “Afghanistan, unfortunately, was already facing multiple crises. … What you have on top of that is going to be economic hardships,” Ajmal Ahmady, who served as Afghanistan's central bank chief until the government fell and he fled the country, told CNN.
Transcripts show George Floyd told police "I can't breathe" over 20 times
Section2Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.
Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.
The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.
- The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.
What the transcripts say:
- Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
- The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
- Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."
Read the transcripts via DocumentCloud.