Dealing with the economic challenges for Nepal brought about by Covid-19

  • Professor Surya P. Subedi

The pandemic of Covid-19 has brought many challenges for states of all size and shape, whether economically or politically. The hardest hit is likely to be the least-developed countries like Nepal which already suffer from other handicaps. They lack a long-term strategy to use economic diplomacy successfully to develop the economy of the country. Economic diplomacy is about knowing how to exploit the unique selling points that the country has, maximise the benefits resulting from them and putting in place policies designed to achieve such objectives. The following are some of them:

  1. Benefiting from competition among foreign actors

 

We are often led to believe that Nepal is a resource poor country, but in reality, it is a country rich in water resources and other resources such medicinal Himalayan herbs and has a huge potential for the development of the tourism and other services sectors. Since the country is endowed with such resources and there is so much potential for the services sector, Nepal is well placed to attract foreign investment to harness its natural resources and develop its services sector since the country has achieved some degree of political stability. Continue reading

What graduating out of LDC status means for Bangladesh

Achieving developing economy status would mean reduction in the informal economy as a share of GDP. Photo: Star

Habibullah N Karim, The Daily Star— It is indeed a seminal event in the history of Bangladesh that the UN last year declared Bangladesh eligible to step up to a developing economy from being a Least Developed Country (LDC). Of course the process is gradual and due to take effect in 2024 with a grace period of three years to wean off the special dispensations of the LDC status. Continue reading

Climate change reveals underlying threats to urban water

Lines of people waited to collect drinking water during the drought in Cape Town, South Africa, January 2018.
©Mark Fisher/Shutterstock.com

By : Marianne Kjellén, Senior Water Advisor, UNDP

UNDP— Fears of cities running out of water have become very real in several parts of the world, most recently in South Asia in places such as Karachi, Islamabad, Chennai, and Delhi. These crises reveal severe underlying problems with water resource management and distribution.    Continue reading