Falling remittances, foreign currency reserves worrisome amid resurging imports

Nepal’s imports surged by 75.7 percent while remittances fell by 18.1 percent in the first month of the new fiscal year.

Trade deficit soared, foreign exchange reserves decreased and remittances declined sharply in the first month of the current fiscal year 2021-22, raising concerns if the external sector of the economy—Nepal’s international economic transactions—might be at risk.