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U.S. Senate Report: Afghanistan Could Face Economic Crisis After 2014

The report says Afghanistan could descend into economic depression in 2014
A new U.S. congressional report warns that Afghanistan could face a deep financial crisis after foreign troops leave as scheduled in 2014, unless more success starts being achieved now with foreign aid dollars.

The report was completed after two years of study by members of President Barack Obama's Democratic Party who serve on the Senate Foreign Relations Committee.

The report says U.S.-backed stabilization programs in Afghanistan have had limited success, despite about $18.8 billion being spent over 10 years -- more than for any other country, including Iraq.

The report says that misspent foreign aid can result in corruption, distort markets, and hamper the ability of Afghanistan's government to control resources.

The report says that 97 percent of the gross domestic product in Afghanistan is linked to spending by the international military and donor community.

The report says "Afghanistan could suffer a severe economic depression when foreign troops leave in 2014 unless the proper planning begins now."

compiled from agency reports