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Nepalis vote amid looming inflation, political stability concerns

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Nepalis vote in a general election on Sunday with few expecting drastic change — or a government that can quickly revive one of South Asia’s slowest-growing economies.

In this election, the ruling coalition of Nepal’s Congress party, led by Prime Minister Sher Bahadur Duba and some ex-Maoist rebels, took on Nepal’s communist Unified Marxist-Leninist (UML) party.

There are no pre-election polls, but political analysts expect the ruling coalition to retain power.

Voting will close at 5pm (1115GMT), the electoral commission said. Announcing the final results can take up to two weeks.

About 18 million people are eligible to vote for the 275-member parliament and 550 members of the seven provincial assemblies through the first-term and proportional representation system.

In a video message, Deuba said voting would strengthen the nascent democracy. “Let’s celebrate democracy by voting,” Deuba said.

Political stability in the impoverished country, sandwiched between China and India, has proven difficult for many investors. Nepal has had 10 governments since the abolition of the 239-year-old monarchy in 2008.

Political parties have pledged at national rallies to lower prices, create jobs and boost the economy.

The #nonotagain movement has gone viral on social media, urging voters not to re-elect many party leaders who allegedly failed to deliver on their promises. Several young independent candidates, including medical and IT professionals, are challenging them.

The Election Commission has urged voters to vote in secret without fear of threats, intimidation and obstacles.

“Voting is not only their right but also their duty to elect representatives through secret ballots,” Chief Election Commissioner Dinesh Tapalia told Reuters.

Analysts said the new government will face the challenge of reviving the economy and curbing high prices.

some people worry about the world economic recession Remittances, which account for a quarter of gross domestic product, could be cut.

The tourism industry, which accounted for 4% of GDP before the epidemic, has not fully recovered. More than 450,000 tourists visited Nepal in the first 10 months of this year, less than half of the tourist arrivals for all of 2019.

Shrinking foreign exchange reserves and retail investors inflation That share has hovered at a six-year high around 8% in the Himalayan nation, where one in five people lives on less than $2 a day.



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