Tag:Middle East conflict

The Fund reaffirmed its commitment to supporting Sri Lanka as the country seeks to consolidate hard-won gains and move toward more durable, inclusive growth.

Without coordinated intervention, the ripple effects of the Middle East crisis could entrench hunger for years, reversing hard-won development gains.

Recognising the gravity of the situation, the planters' association urgently calls for coordinated, pre-emptive action.

UN Assistant Secretary-General and UNDP Regional Director for Asia and the Pacific Kanni Wignaraja emphasized that standard economic management measures will not suffice in this landscape.

In its policy brief released on Monday, the UNDP described the conflict as “development in reverse”, cautioning that even a fragile ceasefire may not prevent long-lasting economic damage.

At the international poverty line of $3 a day, an additional 1.4 million people are estimated to have slipped into poverty between 2022 and 2025 due to stagnant labour incomes and persistent inflation that eroded the benefits of whatever growth occurred.

As the two-week ceasefire takes effect, markets will be watching closely for signs of sustained de-escalation. Yet even if fighting subsides, the economic scars of the Iran war may take far longer to heal, the three organisations said.

With the region still recovering from previous shocks, the latest ADB analysis serves as a timely reminder of the region’s exposure to distant geopolitical events.