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By Marc Jones

LONDON — The Taliban’s rapid advance L1N2PK073 towards Kabul is not only causing concern about Afghanistan’s future but also about the impact on other…

The Taliban's rapid advance towards Kabul is not only causing concern about Afghanistan's future but also about the impact on other countries in the region and their economies.

Iran and then Iraq lie to the west of Afghanistan. Tajikistan, Turkmenistan and Uzbekistan are to the north. But the immediate focus for financial markets and investors is Pakistan to the east. Pakistan has a large public debt, a sizeable equity market and is dependent on a $6-billion IMF programme. The prospect of years of violence and waves of refugees will add pressure to its fiscal repair plans.

Turkey’s lira hit its highest levels against the dollar in a month as some investors bet U.S. President Joe Biden and Turkish President Recep Tayyip Erdoğan might resolve a spat over Russian missiles at a meeting on Monday.