Is Nepal's economy collapsing like Sri Lanka

CURRENCY RATE

Nepal's economy collapsing like Sri Lanka as its currency Nepalese rupee (NPR) rate is so low that 1 dollar (USD) is 123.65 Nepalese rupee (NPR) .

PETROL AND DEISEL PRICES

The Russia - Ukraine war is also a reason for economy collapsing in Nepal because due to it 1 litre petrol price in Nepal has went 105.23 rupee and 1 litre diesel price has went 143 rupee .

THE FOREX RESERVES

The forex reserves are now only enough to sustain the import of goods and services for 6.7 months , below the central bank's target for at least 7 months .

TOURISTS

A large number of Nepal's economy is depended on tourism but due to corona virus ( covid-19 ) in 2020 and 2021 tourists didn't came so Nepal got a loss of 85.2 billion dollars monthly in tourism sector .

IMPORT BANS

Nepal bans imports of luxury cars , items to conserve its dwindling foreign reserves . Nepal also puts ban on alcohol , tobacco and other luxury items .

no imports of any types of alcohol or tobacco products , large-engine motorcycles and mobile phones costing over $600 dollars will be allowed .

CHINA IS MAKING NEPAL DEPENDED ON IT LIKE SRI LANKA

CHINA IS BREAKING US-NEPAL TIES AND MAKING CHINA-NEPAL TIES

CHINA IS FOOTING DOWN THE MCC agreement between Nepal and USA so their relations will break down and Nepal will make good relations with china . recently Chinese foreign minister , Wang Yi visited Nepal and asked to sign 10 agreements from Sher Bahadur Deuba which directly means China is making China-Nepal ties .

Trade dependence

in 2017 - 2018 China was the second largest trade partner of Nepal even Nepal exported China $23 million dollars and got a import of $1.5 billion dollars and these numbers are increasing day by day that clearly show how much Nepal is getting depended on China .

NEPAL IS FALLING INTO CHINA'S DEPT TRAP!

government of Nepal has signed agreements worth $ 2.4 million dollars with China for several infrastructure and energy projects .

as of the last fiscal year 2019 - 2020 the country's outstanding debt was worth 1.41 trillion rupees , 40.16 percent of the country's gross domestic product ( GDP ) .

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