Inflation

UN Assistant Secretary-General and UNDP Regional Director for Asia and the Pacific Kanni Wignaraja emphasized that standard economic management measures will not suffice in this landscape.

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.

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.

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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.

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.

Remittances already account for nearly 67 per cent of Nepal’s total foreign currency earnings. Tourism and exports from the Gulf add smaller but important flows. Last fiscal year, 20,504 tourists from Gulf countries visited Nepal, representing 1.8 per cent of total arrivals.