Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Afghanistan heading towards collapse faster than expected, Swedish minister warns

10/23/2021 | 06:58am EST
A mother holds her baby at the malnutrition ward of Indira Gandhi hospital in Kabul

DUBAI (Reuters) - Afghanistan is heading towards economic collapse that risks spiralling the country into a new political crisis, Sweden's minister for international development cooperation warned on Saturday.

Afghanistan has been plunged into crisis following the collapse of the Western-backed government and Taliban take over in August, which was met with an abrupt end of billions of dollars in assistance to its aid-dependent economy.

"My concern is that the country is on the brink of collapse and that collapse is coming faster than we thought," Per Olsson Fridh told Reuters in Dubai, warning that economic freefall could provide an environment for terror groups to thrive.

The 27-country European Union, which includes Sweden, has increased humanitarian aid to Afghanistan since the Taliban swept back to power but has halted its development assistance, a measure taken by many other countries and the World Bank.

The Red Cross on Friday urged https://www.reuters.com/world/asia-pacific/red-cross-warns-aid-groups-not-enough-stave-off-afghan-humanitarian-crisis-2021-10-22 the international community to engage with the Taliban, warning that aid groups on their own could only provide temporary solutions.

Sweden was looking into scaling up efforts through Afghan civil society groups to secure basic services, Fridh said, but that other countries needed to be convinced this was possible to do without legitimising the new Taliban rulers.

However Sweden would not channel development money through the Taliban, he said. The movement has faced international criticism for its failure to uphold certain rights since returning to power, including allowing girls access to education.

Most countries have shuttered their embassies in Kabul with some having relocated them to Qatar, the Gulf state which is a key interlocutor between the West and the Taliban.

European countries were not ready to reopen their Kabul embassies, Fridh said, adding that more diplomatic missions would open in Qatar before there is a return to Afghanistan.

(Reporting by Alexander Cornwell; Editing by Ros Russell)

By Alexander Cornwell

ę Reuters 2021
Latest news "Economy & Forex"
04:45aGSTechnologies Launches GS Money Protocol, Starts Platform Trials
04:43aEu health commissioner kyriakides calls for faster deployment of vaccines, boosters as omicron variant could add pressure to healthcare systems
04:43aThreatened by Omicron, EU states urged to test more as some lag
04:43aEu commission in letter urges eu health ministers to step up testing, sequencing as omicron variant is detected across the bloc
04:43aOmicron vaccine warning triggers fresh global selloff
04:42aFRANCE'S HAUTE AUTORITE DE SANTE REGULATOR : Backs covid vaccination for children deemed especially fragile aged 5-11
04:37aCOVID : France's haute autorite de sante regulator says it backs vaccination for fragile children
04:34aItaly's Draghi says govt ready to further curb energy price increases
04:33aOil falls 3% on jitters over vaccine efficacy
04:31aBanking statistics – commentary
Latest news "Economy & Forex"