Economic Focus – Nepal

Nepal is a landlocked country that is famous for mountaineers. Having access to the Himalayas, Nepal remains to this day one of the poorest  countries in the world.

Source: INSEC

Key Events

February 1, 2005 – King seizes absolute power

November 22, 2005 – Political parties, Maoists rebels form an alliance against the King

April 2006 – General strike by Maoists, opposition; King bows to demands to restore parliament

May 2006 – New cabinet unveiled, ceasefire declared and Parliament strips King of powers

November 21, 2006 – Peace accord between government and rebels

January 15, 2007 – 83 Maoists sworn into interim Parliament

April 1, 2007 – Maoists ministers sworn into interim cabinet

April 24, 2007 – New government says monarchy will be abolished by 2008

May 31, 2007 – Elections for constituent assembly set for June pushed back to November

September 18, 2007 – Maoists storm out of an interim government

December 15, 2007 – New election set for mid-April 2008

December 28, 2007 – Lawmakers approve abolition plans for the monarchy

April 10, 2008 – First general election since 1999, set to create an assembly likely to abolish monarchy

Source: AFP

Facts – BBC

  • Population: 28.2 million (UN, 2007)
  • Capital: Kathmandu
  • Area: 147,181 sq km (56,827 sq miles)
  • Major language: Nepali
  • Major religions: Hinduism, Buddhism
  • Life expectancy: 63 years (men), 64 years (women) (UN)
  • Monetary unit: 1 Nepalese rupee = 100 paisa
  • Main exports: Carpets, clothing, leather goods, jute goods, grain
  • GNI per capita: US $270 (World Bank, 2006)

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