Islamabad, The economic collapse of Afghanistan, already teetering dangerously on the edge, would have a “horrendous” impact on the region and the world, successive speakers warned today at the start of a one-day summit of foreign ministers from dozens of Islamic countries.

The hastily called meeting of the Organization of Islamic Cooperation (OIC) in Islamabad brought together dozens of foreign ministers with the special representatives on Afghanistan of major powers, including China, the U.S. and Russia.

The gathering also included the U.N. undersecretary general on humanitarian affairs, as well as the president of the Islamic Development Bank (IDB) Muhammad Sulaiman Al Jasser, who offered several concrete financing proposals. He said the IDB can manage trusts that could be used to move money into Afghanistan, jumpstart businesses and help salvage the deeply troubled economy.

The dire warnings called for the U.S. and other nations to ease sanctions, including the release upward of $10 billion in frozen funds following the Taliban takeover of Kabul on 15 August 2021.

Speakers also called for a quick opening of the country’s banking system and collectively, with the United Nations and international banking institutions, assistance to Afghanistan. Pakistan’s Prime Minister Imran Khan directed his remarks to the U.S., urging Washington to drop preconditions to releasing desperately needed funds and restarting Afghanistan’s banking systems.

Martin Griffiths, the U.N. undersecretary for humanitarian affairs and emergency relief coordinator, warned that Afghanistan will not survive on donations alone. He urged donor countries to show flexibility, allowing their money to pay salaries of public sector workers and support “basic services such as health, education, electricity, livelihoods, to allow the people of Afghanistan some chance to get through this winter and some encouragement to remain home with their families.”

Beyond that, Griffiths said, “we need constructive engagement with the de facto authorities to clarify what we expect from each other.”

Afghanistan’s teetering economy, he added, requires decisive and compassionate action, or “I fear that this fall will pull down the entire population,” the Associated Press (AP) news reported.

Source: Oman News & Info Agency