International
The Asian Development Bank warns that Asia is already facing the most serious scenario foreseen due to the energy crisis derived from the war in the Middle East, a situation that is driving million-dollar requests for financial aid and increasing pressure on the region’s economies.
The president of the Asian Development Bank (ADB), Masato Kanda, affirms that the economic impact of the war in the Middle East is already hitting the Asia-Pacific hard. According to the organization, the increase in the prices of energy, maritime transport and other inputs affects several countries, of which at least 15 are requesting emergency financing for about US$4 billion.
The ADB points out that the crisis also increases food costs and regional inflation, in addition to affecting economic growth. Among the countries requesting assistance are the Philippines, India, Bangladesh and Sri Lanka, while the institution anticipates new requests for financial support in the face of deteriorating economic conditions.
