Kathmandu | Nepal, another neighbor of India, is reported to be facing a severe financial crisis following Sri Lanka. Fuel shortages, sharp rise in prices of petroleum products and low foreign exchange reserves are also affecting Nepal, the report said. According to international media reports, the Nepalese government is considering giving the country a day off in the wake of the crisis.
A two-day holiday may be announced for public sector offices in April. The Central Bank of Nepal and the Oil Corporation have submitted such a proposal to the government.
During the Kovid period, the country’s tourism sector collapsed and foreign exchange was not available. As part of increasing foreign exchange reserves, the government has called on Nepalese citizens abroad to open dollar accounts and deposit in banks.
Along with governance failures, fuel shortages, rising food prices and a sharp fall in foreign exchange reserves have put Sri Lanka in a major crisis.
