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Taliban rule: IMF predicting 30 pct shrink in Afghanistan’s economy

Just Earth News | @justearthnews | 20 Oct 2021

#Taliban   #AfghanistanEconomy   #Afghanistan  

Taliban rule: IMF predicting 30 pct shrink in Afghanistan’s economy

Image: Xinhua/UNI

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

Officials in IMF was quoted as saying by Khaama Press that  Afghanistan’s situation was deteriorating even before the Taliban entered Kabul and added that COVID-19 and drought are among the factors that will cause the sharp contraction in the economy.

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 Taliban took control over Afghanistan on Aug 15 after entering Kabul city.