The trials of Nepal: Challenges endured in the past decade
Summary
Nepal has faced severe challenges over the past decade including the 2015 earthquake, economic blockade, COVID-19 pandemic, cooperative scams, rising foreign debt, political instability, and pervasive corruption, deeply impacting its society and economy.
Key Points
- Nepal experienced a devastating 7.8-magnitude earthquake in 2015 causing widespread loss of life and property, with reconstruction efforts still ongoing.
- An unofficial blockade by India in 2015-2016 caused severe shortages and economic losses estimated at Rs 202.5 billion.
- The COVID-19 pandemic led to lockdowns, economic contraction, and increased poverty and food insecurity in Nepal.
- Widespread cooperative scams embezzling billions in deposits have eroded public trust and led to numerous arrests by 2025.
