Overlapping food, debt crisis in Afghanistan can have devastating impacts: World Bank
Aug 09, 2022
Kabul [Afghanistan], August 9 : Since the Taliban took control of Afghanistan, the country is under a massive humanitarian crisis and is currently at the greatest risk of overlapping food and debt crises, a report by the World Bank stated recently.
"Overlapping debt and food crises can have devastating impacts, with international assistance the only solution," the report cited.
Citing several analysts, Tolo News stated that lack of investment is one of the key reasons for rising economic problems in the country.
Seven countries are at the greatest risk of overlapping food and debt crises in which Afghanistan tops the charts followed by Eritrea, Mauritania, Somalia, Sudan, Tajikistan, and Yemen, the World Bank said in a recent report.
Responding to the report, the Ministry of Economy however blamed the sanctions imposed by the US for the economic turmoil in Afghanistan.
"Our solutions are based on several components, which are strengthening Afghanistan's infrastructure, second, modernization of Afghan agriculture, and third, an extension of trade and transit. Through these...components, we can reach self-sufficiency," Tolo News reported quoting Latif Nazari, Deputy Minister of Economy as saying.
Moreover, Afghanistan's rain-fed and irrigated wheat production is likely to be below average, with northern and northeastern rainfed areas expected to experience the greatest deficits presently.
"The farmers have suffered, and it (drought) impacted their crops. However, the drought not only affected Afghanistan but the whole world," said Musbahuddin Mustaeen, a spokesman for the Minister of Agriculture, Irrigation and Livestock.
The report also cited increasing emergency aid to Afghanistan as well as all the at-risk countries as one possible solution to avoid the devastating impact of overlapping debt and food crises.
Several findings show Afghan domestic inputs have become more expensive and yet difficult to obtain due to supplier closure and supply chain disruptions, which all lead to price inflation since the beginning of political uncertainty.
As per a local survey, the rate of poverty in the country has exceeded 95 per cent since the fall of the former government while 56 per cent are seeking to leave the country amid a drop in daily income.
Moreover, millions of Afghans are on the brink of starvation as the country reels from a humanitarian crisis.
