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

TIES WITH CHINA: Is Bangladesh Going Lanka Way?

Plans for nine Special Economic Zones, including Chinese-developed sites in Chattogram and Chandpur, promise jobs but risk creating enclaves where Beijing’s economic priorities overshadow Bangladesh’s….reports Asian Lite News On a humid March

Khaleda Zia’s Son Return Looms as Yunus Faces Heat

The core question remains whether Rahman can provide leadership in politically turbulent times in Bangladesh….reports Asian Lite News Speculation is mounting in Bangladesh over the possible return of Tarique Rahman, son of

India Eyes Top 5 Spot in Global Entertainment

With focused investments, policy support, and infrastructural upgrades, India is on track to position itself as one of the top five live entertainment destinations globally by 2030…reports Asian Lite News Fueled by
Go toTop

Don't Miss

Poverty looms large over Afghanistan amid funding freeze

UN envoy called for modus vivendi in Afghanistan to prevent

Russian embassy in Kabul suspends all services after blast

As a result of the explosion, two members of the