October 21, 2021
1 min read

Afghan economic woes could push millions into poverty , warns IMF

The economy will contract by up to 30 per cent this year –which could push millions into poverty and cause a humanitarian crisis…reports Asian Lite News

Afghanistan’s economic woes could fuel a refugee crisis impacting neighbouring countries, Turkey and Europe, the International Monetary Fund has said, BBC reported.

The economy will contract by up to 30 per cent this year –which could push r and cause a humanitarian crisis, the fund warned.

The IMF said Afghanistan’s neighbours would be further hit because they rely on its funds for trade, the report said.

Bordering Tajikistan has said it can’t afford to take in many more refugees.

With foreign assets frozen and most non-humanitarian aid halted, inflows of cash to Afghanistan have all but dried up.

In its regional economic outlook, the fund said: “A large influx of refugees could put a burden on public resources in refugee-hosting countries, fuel labour market pressures, and lead to social tensions, underscoring the need for assistance from the international community.”

While it’s unclear how many Afghan refugees there would be, the IMF estimates that if there were to be a million more, hosting them would cost Tajikistan $100m (£72m), Iran $300m and Pakistan $500m, the report said.

Last month Tajikistan said it could not afford to take in large numbers of refugees unless it received international financial assistance while other Central Asian nations have said they have no plans to host refugees.

Nearby countries will also be hurt by the loss of Afghanistan as a major trading partner.

The IMF also warned there are concerns that funds going into the country may be used to finance terrorism and launder money.

ALSO READ: Khalilzad faces flak over his ‘destructive role’ in Afghanistan

Previous Story

Science Museum announces climate change gallery

Next Story

Imran under fire as 15-day protest kicks off in Pakistan

Latest from -Top News

India-EU Trade Talks Resume

The proposed India-EU FTA covers 23 policy areas, or chapters, of which at least two – market access and rules of origin – have yet to be resolved….reports Asian Lite News India

India Launches Relief Ops in Bhutan

The Royal Government of Bhutan has expressed sincere gratitude to the Indian Army…reports Asian Lite News Amid unprecedented floods caused by a low-pressure system over the Bay of Bengal, relentless rainfall has

Jaishankar Hints at Tariff Deal with US

Jaishankar explained that the ongoing trade tensions largely stem from the inability of both sides to reach a common ground on several issues….reports Asian Lite News External Affairs Minister S. Jaishankar on

Rajnath Singh Heads to Australia for Key Defence Talks

The visit comes at a historic moment when India and Australia commemorate five years of establishment of India-Australia Comprehensive Strategic Partnership…reports Asian Lite News Defence Minister Rajnath Singh will visit Australia from

Multi-alignment, upgraded

With US ties strained and China tense, New Delhi taps Europe’s harder edge for co-development, clean tech and strategic autonomy, writes Manoj Menon India is recalibrating its great-power hedging as frictions with
Go toTop

Don't Miss

Taliban name Suhail Shaheen as Afghanistan’s UN envoy

“The newly introduced members of the cabinet are professional personalities

Casualties feared in Kabul mosque blast

Zadran said the exact number of casualties was not clear