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Nepal: Strategies for Post-COVID-19 Recovery Amidst Falling Remittances
Nepal, where remittance contribution to GDP in 2019 was equivalent to 27.3 percent, according to the World Bank, has lost nearly 50 percent of remittances in the past two months compared to the same period last year.
Nepal’s Remittance-Dependent Economy Braces for Upheaval Amid COVID-19 Pandemic
The government’s decision to stop issuing permits to migrant workers will have significant consequences for the country, where economic activities are driven by remittances, experts say.