Today: 16 March 2025
21 October 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

UAE Partners With Israel On Beresheet-2 Moon Landing

Next Story

US pavilion discusses global partnerships in space exploration

Latest from -Top News

Dubai Glows with Ramadan Spirit

The stunning displays are a key highlight of the second edition of the #RamadanInDubai campaign. Dubai has transformed into a dazzling spectacle of light and artistry in celebration of Ramadan, with grand

UAE Celebrates Emirati Children’s Day

The United Arab Emirates is celebrating Emirati Children’s Day today, reaffirming its dedication to nurturing a safe and supportive environment for the nation’s children. This annual occasion highlights the UAE’s commitment to

US pullback on Gaza plan welcomed 

The Hamas movement also responded positively, stating that the reversal was a welcome move….reports Asian Lite News Palestinian, Jordanian, and Egyptian officials have welcomed US President Donald Trump’s decision to abandon his

Can AI Transform the Future of India-GCC Ties? 

One area where AI can significantly enhance India-GCC cooperation is in the field of supply chain management and logistics. …writes Sudhanshu Kumar and Rashi Randev  Recently, a few months back, the External

Syrian leader signs constitutional declaration 

The declaration enshrines several fundamental rights, including freedom of opinion, expression, the press, and access to information.  Syrian President Ahmad al-Sharaa signed the draft Constitutional Declaration on Thursday, marking a significant step
Go toTop

Don't Miss

More than a million Afghans fled to Iran as economy collapses

From October 2021 through the end of January 2022, more

16k-20k Afghans die of cancer annually

The officials blamed the previous Afghan government for not properly