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IMF predicting 30% shrink in Afghanistan’s economy after Taliban takeover

Immigration News

Najibullah Lalzoy
Najibullah Lalzoy
Najibullah Lalzoy is a journalist and editor at Khaama Press. He has a BA degree in journalism.

International Monetary Fund in its latest regional economic report said that the gross domestic products of Afghanistan could see a 30% contraction after the Taliban took over the country and foreign aids halted.

Officials in IMF say that Afghanistan’s situation was deteriorating even before the Taliban enter Kabul and add that COVID-19 and drought are among the factors that will cause the sharp contraction in the economy.

After the Taliban takeover on August 15, non-humanitarian aids stopped in Afghanistan, foreign assets have been frozen, people lost their jobs, and banks are struggling with a limited amount of cash.

The IMF report indicates that the situation will result in a decrease in living standards and may push millions of people into poverty that will then lead to a humanitarian crisis.

The report further reads that the ongoing turmoil in Afghanistan will lead to a surge in the number of refugees and will affect the refugee-hosting countries.

IMF asks the international community to scale up their humanitarian aids to Afghanistan and focus on the health and education sectors.

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