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Home World News

Nepalis Vote Amid Looming Inflation, Political Stability Concerns

INBV News by INBV News
November 20, 2022
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Nepalis Vote Amid Looming Inflation, Political Stability Concerns
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KATHMANDU (Reuters) – Nepalis were voting on Sunday in a general election that few expect to bring drastic change – or a government in a position to quickly revive certainly one of the slowest-growing economies in South Asia.

The election pits the ruling alliance of the Nepali Congress party, led by Prime Minister Sher Bahadur Deuba and a few former Maoist rebels, against the Nepal Communist Unified Marxist Leninist (UML) party.

There are not any pre-election polls, but political analysts expect the ruling alliance to retain power.

Polls close at 5 p.m. (1115 GMT), the Election Commission said. It could take as much as two weeks to declare final results.

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About 18 million persons are eligible to vote for the 275-member parliament and the 550 members of seven provincial assemblies through a combination of first-past-the-post and proportional representation systems.

In a video message, Deuba said voting would strengthen the nascent democracy. “Allow us to have fun democracy by participating in voting,” Deuba said.

Political stability has proven elusive for the poor nation, wedged between China and India, discouraging many investors. Nepal has had 10 governments for the reason that abolition of a 239-year-old monarchy in 2008.

Political parties promised to bring down prices, create jobs and boost the economy at nationwide rallies.

A #nonotagain campaign was trending on social media, urging voters to not reelect many party leaders over their alleged failure to fulfil guarantees. Several young and independent candidates, including medical and IT professionals, are difficult them.

The Election Commission has urged voters to forged their secret votes without fear of threat, intimidation and obstacle.

“Voting isn’t only their right but in addition their duty to decide on representatives through the key ballot,” Chief Election Commissioner Dinesh Thapalia told Reuters.

Analysts said a latest government would face the challenge of reviving the economy and curbing high prices.

There are fears that a world recession might reduce remittances, which account for a few quarter of GDP.

Tourism, which contributed 4% to GDP before the pandemic, has yet to completely get better. In the primary 10 months of this yr, greater than 450,000 tourists visited Nepal, lower than half the variety of pre-COVID visitors in all of 2019.

Foreign reserves are shrinking and retail inflation has been hovering at six-year highs of about 8% within the Himalayan nation, where one in five people survive lower than $2 a day.

(Reporting by Gopal Sharma; Writing by Manoj Kumar; Editing by Gerry Doyle)

Copyright 2022 Thomson Reuters.

Tags: ConcernsinflationloomingNepalispoliticalStabilityvote
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