Nepal reports $2.7 billion in losses from Himalayan tsunami floods

Nepal's government has reported that the devastating floods occurring on August 26, referred to as the ‘Himalayan tsunami,’ resulted in economic damages and losses exceeding $2.7 billion. This figure represents approximately 10 percent of the country’s gross domestic product.

Finance Minister Swarnim Wagle presented these estimates during a press conference in Bangkok. The assessment indicates $1.8 billion in physical damage alongside more than $900 million in additional economic losses. The government is currently seeking international financing to assist with reconstruction and to implement measures to mitigate the impact of future disasters.

The disaster caused severe destruction to essential infrastructure, including hydroelectric projects, farmland, fish ponds, and food reserves. The floods also resulted in a significant human toll, with reports indicating more than 1,500 deaths and 6,000 people missing.