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.
Balancing genuine efforts to combat illicit finance with the protection of civic space remains a test that international standards – and international observers – will closely watch.
The developments in Nepal illustrate a familiar tension across many democracies: the challenge of establishing effective self-regulation and accountability mechanisms without creating tools that could be used to constrain critical reporting.
Balancing genuine efforts to combat illicit finance with the protection of civic space remains a test that international standards – and international observers – will closely watch.