Nepal has witnessed an unprecedented surge in remittances, a vital component of the country's economy, reaching a staggering Rs 116.02 billion in the first month of the current fiscal year. While the immediate economic benefits of this influx are undeniable, it is crucial to emphasize the imperative for long-term economic sustainability.

KATHMANDU, Aug 19: The indicators of inflation, current account deficit and foreign direct investment are poor while indicators of remittances, balance of payment and foreign exchange reserves positive, according to the current macroeconomic and financial situation of Nepal for the fiscal year, 2022/23 published by the Nepal Rastra Bank.

KATHMANDU, April 11: Nepalis working abroad have sent Rs 104 billion in remittances in a period of one month.

KATHMANDU, August 17: Remittances inflow in the country increased 4.8 percent in Nepali rupee and 2.2 percent in US Dollar in the fiscal year 2078/079 BS, according to the Nepal Rastra Bank (NRB).

Remittances from overseas migrants have been a crucial component in keeping Nepal's economy afloat. With a contribution of 24.1 percent to the national economy in 2020, remittances have had a Dutch disease effect on the national economy.

Food and beverage inflation stands at 5.73 percent

KATHMANDU, March 10: Qatar has temporarily banned the entry of travelers from 14 countries, including Nepal, as part of its preparation to contain the spread of coronavirus.

Nepal is among the least developed nations with around one-fourth of its population living underneath the poverty line. It is heavily dependent on remittances, contributing to as much as 30 percent of GDP. Agriculture is another pillar of our economy, providing jobs to nearly 66 percent of population.

“A man willing to work, and unable to find a work, is perhaps the saddest sight that fortune’s inequality exhibits under this sun,” says Thomas Carlyle, a British historian and novelist.

KATHMANDU, March 16: Nepal received a total of Rs 515.55 billion in the first seven months of the current Fiscal Year 2018/19. According to the 'Current Macroeconomic and Financial Situation of Nepal (Based on Seven Months' Data of 2018/19) released by the Nepal Rastra Bank (NRB) on Friday, the remittances inflow rose 28.5 percent in the review period to Rs 515.55 billion compared to an increase of 1.7 percent in the same period of the previous year.

MYAGDI, Nov 7: Myagdi district has received over Rs 1 billion in remittances in the festive season of Dashain and Tihar, a time when Nepalis working abroad send home money.

KATHMANDU, Oct 31: Nepal received a total of Rs 154.2 billion in remittances in the first two months of the current fiscal year 2018/19.

DHADING, Oct 24: In a country that is highly dependent on remittances, Dhading district alone has received Rs 2.24 billion in remittances in a year.

KATHMANDU, Aug 26: Remittance growth rebounded in the last Fiscal Year 2017/18 despite continuous fall in the number of Nepali workers heading for foreign employment.

KATHMANDU, Oct 27: Nepal could miss its target to become a 'middle-income' country by relying too heavily on remittance incomes, according to a new report prepared jointly by the Overseas Development Institute (ODI) and South Asia Watch on Trade, Economics and Environment (SAWTEE).

KATHMANDU, July 13: Lawmakers have urged the government to take carrot and stick approach for bringing remittances into the country through formal channel and discouraging informal remitting channels like hundi.

KATHMANDU, May 24: The World Bank has said that the remittances and outmigration at a large-scale is accentuating existing challenges of the country which is in ‘a low growth, high migration trap’.

KATHMANDU, May 17: Remittances growth slowed to 6.3 percent in the third quarter of the current fiscal year 2016/17, down from 13 percent in the corresponding period of the last fiscal year.

KATHMANDU, March 28: A visiting Zimbabwean minister has said that African country wants to learn from Nepal to organize remittances inflow to improve its GDP.

KATHMANDU, Jan 19: Remittances inflow recorded a slower growth of 6 percent to Rs 287.66 billion in the first five months of the current Fiscal Year 2016/17.

KATHMANDU, Sept 23: Remittance inflow has declined 2.5 percent in the first month of the current fiscal year 2016/17 to Rs 51.94 billion, indicating uneasy days ahead for the economy.