South Asian economies importing 60-100% of oil/gas face severe shocks: India absorbs losses, Bangladesh/Pakistan strain foreign reserves, Sri Lanka rations fuel under IMF constraints. Common responses include demand suppression (shortened workweeks), currency depreciation, supply diversification away from Gulf, and reliance on multilateral financing to stabilize external accounts.
South Asia's Energy Crisis Opens Strategic Door for Canada
Power cuts, factory closures affecting garment workers, school closures, fuel rationing affecting civilian populations, and food security pressures from fertilizer supply disruptions across South Asia.