The global economy has been severely paralysed, owing to the unprecedented crisis triggered by the COVID-19 pandemic, and different studies have indicated that the crisis is relatively more maleficent to the lower-income and middle-income economies. Methodologically, this study relied on the review and analysis of the grey literature, media reporting and data published by the Asian Development Bank, United Nations Conference on Trade and Development (UNCTAD), United Nations (UN), World Bank, International Monetary Fund (IMF) among others. The article begins by describing the impact of the pandemic on low-income and middle-income countries, and it discusses how they have responded to the crisis. While discussions have surfaced regarding whether COVID-19 will reverse the process of globalization, what will be its impact on the low-income country like Nepal? The study also highlights that with foreign direct investments speculated to shrink and foreign assistance and remittance taking a hit, how is Nepal struggling to keep its economy afloat? Analysing the new budget that the government unveiled in 2020, this study concludes with a note that instead of effectively implementing the plans and policies directed by the budget, Nepal is unnecessarily engaged in political mess and is needlessly being dragged into the geopolitical complications.

由于COVID-19大流行引发的史无前例的危机，全球经济严重瘫痪，而且不同的研究表明，这场危机相对于低收入和中等收入经济体更为严重。在方法上，本研究依赖于对亚洲开发银行，联合国贸易和发展会议（UNCTAD），联合国（UN），世界银行，国际货币基金组织（ IMF）。本文首先描述了大流行对低收入和中等收入国家的影响，并讨论了他们如何应对危机。尽管有关COVID-19是否会逆转全球化的讨论浮出水面，它将对像尼泊尔这样的低收入国家产生什么影响？该研究还强调，由于外国直接投资预计会减少，外国援助和汇款受到打击，尼泊尔如何努力维持其经济的持续发展？尼泊尔政府分析了2020年政府公布的新预算，得出的结论是，尼泊尔没有有效执行预算指示的计划和政策，而是不必要地参与了政治混乱，并不必要地陷入地缘政治的复杂化之中。