World Bank: Afghanistan at Great Risk of Overlapping Food, Debt Crises

Afghanistan: Seven countries are at greatest risk of overlapping food and debt crises: Afghanistan, Eritrea, Mauritania, Somalia, Sudan, Tajikistan, and Yemen, the World Bank said in a recent report.

“Overlapping debt and food crises can have devastating impacts, with international assistance the only solution,” the report cited.

Meanwhile, the Ministry of Economy in reaction to the report said that the economic crisis in Afghanistan is due to the sanctions imposed by the US.

“Our solutions are based on several components, which is strengthening Afghanistan’s infrastructure, second, modernization of Afghan agriculture, and third, extension of trade and transit. Through these…components, we can reach self-sufficiency,” said Latif Nazari, deputy Minister of Economy.

The World Bank’s report said Afghanistan’s rainfed and irrigated wheat production is likely to be below average, with northern and northeastern rainfed areas expected to experience the greatest deficits.

“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 analysts said lack of investment and the stopping of industrial park activities are the main reasons for rising economic problems in the country.

“If we use logical political engagement and successfully join with the region and the world and bring huge economic opportunities, we will soon be out of our difficulties,” said Sayed Masoud, an economist.

“We are in a state of crisis if it is not prevented. we will be moving toward a disaster. We should establish a conventional economy and use all human and natural resources,” said Azeraksh Hafizi, an economist.

The report cited increasing emergency aid to at-risk countries as one possible solution to avoid the devastating impact of overlapping debt and food crises in the world’s poorest countries.