Economic collapse of Afghanistan likely to further refugee crisis, says IMF
The International Monetary Fund (IMF) on Tuesday said that Afghanistan's economy is set to contract up to 30 per cent this year and it is likely to further fuel a refugee crisis that will impact neighbours, Turkey and Europe, a media report said.
- Country:
- Afghanistan
The International Monetary Fund (IMF) on Tuesday said that Afghanistan's economy is set to contract up to 30 per cent this year and it is likely to further fuel a refugee crisis that will impact neighbours, Turkey and Europe, a media report said. The IMF in its regional economic outlook update said on Tuesday that with non-humanitarian aid halted and foreign assets largely frozen after the Taliban seized power in August, Afghanistan's aid-reliant economy "faces severe fiscal and balance-of-payments crises", according to Khaama Press.
Underlining that turmoil in Afghanistan was expected to generate important economic and security spillovers to the region, the IMF emphasised that the current situation's impact could also be seen beyond the region. The IMF also stressed that the turmoil was fueling a surge in Afghan refugees but it gave no detail on potential numbers.
"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," Khaama Press quoted IMF as saying. The body also highlighted that the resulting drop in living standards threatens to push millions into poverty and could lead to a humanitarian crisis. (ANI)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Afghanistan
- Taliban
- Afghan
- Turkey
- The International Monetary Fund
- Europe
ALSO READ
Heavy rains set off flash floods, killing 33 people in Afghanistan
Afghanistan's first female Olympian calls for Games ban over Taliban's rights record
At least 33 killed, 27 injured in flash floods in Afghanistan
Taliban shuts down two TV stations in Afghanistan for not upholding Islamic and national values
Afghan women turn to entrepreneurship but struggle to access capital