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in Around the Globe

U.S Pulls Out As Afghan Forces Bow out to Taliban, Capping 20-year Failure.

Maynard Championby Maynard Champion
August 17, 2021
Reading Time: 3 mins read
U.S Pulls Out As Afghan Forces Bow out to Taliban, Capping 20-year Failure.

Taliban takes over Kabul

The Islamic militant group, Taliban recaptures Afghanistan after the US Forces ousted them 20 years ago brringing an end to two decade of war between the US Forces and the insurgents. The US spent trillions of dollars training and equipping Afghan Army, but they fell to the Taliban without any resistance.

The Taliban started to escalate its offensive attacks Afghanistan in 2020, after the Trump administration committed to a full withdrawal of U.S. troops by May 1, 2021. Their efforts accelerated after President Biden announced earlier this year that he was delaying the deadline to August 31st. The Taliban had been expanding its control of Afghanistan ever since, culminating the past week’s furious offensive attack that saw the militant group seize every major power center in the nation with little resistance.

Meanwhile, President of Afghanistan, Ashraf Ghani fled the nation on Sunday, August 15, as Taliban insurgents entered the capital city of Kabul, marking the collapse of the government the U.S. spent the past 20 years attempting to remake. As the Taliban moved into Kabul, officials said they expect a complete transfer of power.

The collapse of the Afghan government comes after a week in which the Taliban escalated its months-long offensive attack across the nation, seizing several key provinces, districts, and cities in rapid succession, and forcing thousands of civilians to flee.

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The Taliban held outside Kabul early on Sunday, saying they wanted a “peaceful transfer,” before armed insurgents moved into the city. Helicopters hovered over Kabul all morning, waiting to remove personnel from the U.S. embassy. The Afghan citizens who had packed into the capital city as the Taliban swept through the rest of the nation, didn’t have the luxury of an aerial evacuation.

Biden, however, stood by the decision to remove troops from the nation as the Taliban forced the Afghan government to its breaking point. On Tuesday, he put the onus on the Afghan forces to ward off the Taliban insurgents and preserve the nation’s government. “We spent over $1 trillion over 20 years,” the president said during a news conference.

“We trained and equipped with modern equipment over 300,000 Afghan forces, and Afghan leaders have to come together. We lost thousands, we lost to death and injury, thousands of American personnel. They’ve got to fight for themselves, fight for their nation.”

President Joe Biden

However, the situation stands to get worse once the Taliban assumes control, with many fearing a return to the Islamic extremism that characterized the country years before the U.S. ousted the group from the nation after 9/11. Meanwhile, women are especially vulnerable.

It can be recalled that when the Taliban ruled Afghanistan from 1996-2001, women were forbidden from receiving an education, prohibited from working, deprived of health care, and not allowed to leave their homes without a male to escort them.

Meanwhile, the 20-year war in Afghanistan is the longest in American history. It is estimated to have cost over $2 trillion while resulting in the death of over 240,000 people, including more than 2,400 U.S. service members, according to a study by the Costs of War Project.

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The U.S. committed so many resources into strengthening Afghanistan’s government and military precisely so it could sustain itself in the face of aggression from insurgents. However, the Taliban toppling the Afghan government and seizing power before the U.S. could even finish withdrawing from the region cements the war in Afghanistan as one of the most catastrophic failures in the history of U.S. foreign policy.

READ ALSO: Zambian Opposition Leader Hichilema Declared Winner of General Election

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Unlike previous periods where earnings were significantly supported by impairment recoveries, CalBank's latest results demonstrate that its profitability is now being powered largely by the strength of its underlying banking business. Core Banking Business Drives Exceptional Earnings One of the biggest highlights of the first half performance was the remarkable growth in net interest income, which surged by 83 percent to GHS347.5 million. The increase came despite a relatively lower interest rate environment. Interest income rose from GHS399 million to GHS451.5 million as the bank continued expanding its earning assets. At the same time, funding costs fell sharply, with interest expenses dropping from GHS209 million to GHS104 million. This significant reduction in funding costs improved the bank's profitability and demonstrated stronger balance sheet management. CalBank also recorded exceptional growth from non interest income sources as it continued diversifying its revenue streams. Net fees, commissions, and trading income almost doubled, rising by 99 percent to GHS323.3 million from GHS162.7 million during the same period last year. The strong performance reflects increased customer activity across the bank's retail, commercial, and corporate banking segments. The diversified earnings profile places CalBank in a stronger position to withstand changing market conditions while maintaining sustainable profitability. Stronger Earnings Quality Boosts Investor Confidence Perhaps the most significant aspect of CalBank's results is the improved quality of its earnings. During the first half of 2025, impairment recoveries contributed approximately GHS154 million to profits. However, in the latest reporting period, impairment gains accounted for only GHS7 million. This means the overwhelming majority of profits were generated through normal banking operations rather than one off recoveries. 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Bad Loans Decline Dramatically One of the most remarkable achievements during the first half of the year was the dramatic improvement in asset quality. The bank's Non Performing Loan ratio dropped sharply to 10.10 percent from an exceptionally high 51.60 percent recorded at the end of June 2025. The improvement reflects the successful execution of CalBank's balance sheet remediation programme and disciplined credit risk management practices. A healthier loan portfolio reduces future credit losses while creating additional room for prudent loan growth. The significant decline in bad loans also strengthens investor confidence and enhances the bank's overall financial stability. Capital Position Strengthens After Recapitalisation Following its successful recapitalisation in 2025, CalBank has continued strengthening its financial foundation. Its Capital Adequacy Ratio improved dramatically to 18.17 percent from a negative 7.6 percent recorded a year earlier. 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Mr. Asem stressed that the latest earnings were driven by the strength of the bank's underlying operations rather than one time recoveries, reinforcing the quality and sustainability of the results. Looking ahead, he expressed confidence that the momentum built during the first half would enable CalBank to deliver an even stronger performance during the remainder of 2026. Management says the bank remains committed to disciplined execution of its strategic priorities, strengthening customer relationships, maintaining prudent risk management, and creating sustainable long term value for shareholders. CalBank's Transformation Continues to Deliver CalBank's latest financial performance paints the picture of a bank that has successfully rebuilt its foundations and is entering a new phase of sustainable growth. 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