Economic Turmoil from Iran Conflict Risks 32. 5 Million to Fall into Poverty. Cotonou, Benin – The specter of increased poverty looms large as the ongoing conflict in Iran escalates, threatening to push over 32.
5 million people worldwide into destitution, according to a warning from the United Nations. Disruptions in fuel and fertilizer supplies, exacerbated by the blockage of cargo vessels through the Strait of Hormuz, are set to impact agricultural productivity and crop yields, particularly in the Global South. Countries that are heavily reliant on imports from the Gulf region, including Asia, Sub-Saharan Africa, and Small Island Developing States, are particularly vulnerable to the economic fallout.
The United Nations Development Programme (UNDP) administrator, Alexander De Croo, underscored the severity of the situation, noting that the economic consequences of the war would persist even if it were to end immediately. Countries like India, Bangladesh, Sri Lanka, Somalia, Sudan, Tanzania, Kenya, and Egypt are particularly at risk due to the direct impact on agricultural productivity from the disruption in fertilizer supplies.
The UN’s Food and Agriculture Organization (FAO) has also raised concerns about a potential global food crisis if the situation in the Strait of Hormuz is not resolved promptly.
As the international community grapples with the humanitarian and economic consequences of the conflict, the urgency for a peaceful resolution grows, while the plight of the 32. 5 million at risk of falling into poverty underscores the gravity of the situation.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: aljazeera
