Afghan crisis LIVE: Afghanistan GDP may slump 20%, says Fitch Solutions

Fitch Solutions said on Friday that Afghanistan's economy could shrink by as much as 20 per cent this year and its currency may slide further than it already has following the Taliban's takeover.

"It is likely that the economy will contract sharply this year," Anwita Basu, head of Asia Country Risk at Fitch Solutions - the analysis and research arm of Fitch Group - told Reuters. "Countries facing similar circumstances like Myanmar and Syria have seen their GDPs collapse by around 10-20%, which can't be ruled out for Afghanistan too."  

Meanwhile, the United Nations Development Programme (UNDP) has raised alarm over the ongoing situation in Afghanistan after Taliban took over the country after a swift offensive.

"UNDP joins the call of millions of Afghans and others around the world for peace, respect for human rights, and access to development assistance for all in Afghanistan -- irrespective of their gender, religion, ethnic background, professional affiliation or political beliefs," UNDP said in a statement.