Global Governance

Prime Minister Balendra Shah has successfully executed a symbolic and structural reset of Nepal’s diplomatic posture in just 24 hours.

As tensions persist, the world watches closely, aware that even minor escalations could have far-reaching consequences. The Strait of Hormuz, long recognised for its strategic importance in energy markets, is now emerging as a critical node in the global food supply chain.

As Europe grapples with populist anti-migration sentiment, Spain has positioned itself as a counterpoint.

IMF says, with tensions still high and no immediate resolution in sight, policymakers, businesses and households must prepare for a more challenging economic environment.

In its policy brief released on Monday, the UNDP described the conflict as “development in reverse”, cautioning that even a fragile ceasefire may not prevent long-lasting economic damage.

At the international poverty line of $3 a day, an additional 1.4 million people are estimated to have slipped into poverty between 2022 and 2025 due to stagnant labour incomes and persistent inflation that eroded the benefits of whatever growth occurred.

The UN assessment ends on a note of cautious urgency. The Seville Commitment, though imperfect, still represents the clearest roadmap available.

As the two-week ceasefire takes effect, markets will be watching closely for signs of sustained de-escalation. Yet even if fighting subsides, the economic scars of the Iran war may take far longer to heal, the three organisations said.