World News | Afghanistan’s overlapping food and debt crises could have devastating impact: World Bank

Kabul [Afghanistan]Aug. 9 (ANI): Afghanistan, which is in the midst of a massive humanitarian crisis since the Taliban took control, is now at greatest risk of overlapping food and debt crises, according to a recent World Bank report.

“Overlapping debt and food crises can have devastating effects and international aid is the only solution,” the report cited.

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The lack of investment is one of the main reasons for the country’s growing economic problems, Tolo News quoted several analysts as saying.

Seven countries face the greatest risk of overlapping food and debt crises, the World Bank said in a recent report, with Afghanistan topping the list, followed by Eritrea, Mauritania, Somalia, Sudan, Tajikistan and Yemen.

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In response to the report, however, the economy ministry blamed U.S.-imposed sanctions for the economic turmoil in Afghanistan.

“Our solution is based on several components, which are the strengthening of Afghanistan’s infrastructure, the second is the modernization of Afghanistan’s agriculture, and the third is the expansion of trade and transit. Through these… components, we can achieve self-sufficiency, The Tolo News report quoted Deputy Economy Minister Latif Nazari as saying.

In addition, rain-fed and irrigated wheat production in Afghanistan is likely to be below average, with the largest shortages currently expected in the rain-fed regions of the north and northeast.

“Farmers are suffering and (the drought) has affected their crops. However, the drought is not only affecting Afghanistan, but the whole world,” said Musbahuddin Mustaan, spokesman for the Minister of Agriculture, Irrigation and Livestock.

The report also pointed to increased emergency aid to Afghanistan and all countries at risk as a possible solution to avoid the devastating effects of overlapping debt and food crises.

Several findings suggest that domestic inputs in Afghanistan have become more expensive and harder to obtain due to supplier closures and supply chain disruptions, which have contributed to price increases since the beginning of political uncertainty.

According to a local survey, the country’s poverty rate has exceeded 95% since the fall of the previous government, while 56% of people seek to leave the country due to a drop in their daily income.

Moreover, millions of Afghans are on the brink of starvation as the country emerges from a humanitarian crisis. (ANI)

(This is an unedited and auto-generated story from the Syndicated News feed, the body of the content may not have been modified or edited by LatestLY staff)