Escalating Middle East crisis threatens Nepali economy
Kathmandu, April 15 -- Remittance-dependent Nepal may face a dizzying sequence of shocks, particularly in the labour market, due to escalating tensions in the Middle East following Iran's attack on Israel on Saturday, experts have warned.
Reports show that Tehran has warned it will strike again with greater force if Israel or the US retaliates for the Iranian strike on Israel. The Iranian attack, which involved more than 300 drones and missiles, were carried out on Saturday night.
In India, several leading airlines have cancelled flights to Iran and restricted their use of Israeli and Iranian airspace amid rapidly escalating tensions.
This has spurred worries for Nepal, which is mostly dependent on remittance earnings that make for a s...
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