US EditionNepal says economy suffered $756 million hit from ‘Gen Z’ protests
The protests killed 77 people, injured over 2,000, and caused $252 million in reconstruction costs, with less than $1 million raised so far for rebuilding efforts.
- On Dec 12, Reuters: Youth-led protests forced Prime Minister K.P. Sharma Oli to resign, causing more than $586 million in losses to Nepal's $42 billion economy, a government statement said.
- Protests began after a brief government ban on social media, with wider grievances of economic hardship and high youth unemployment priming the Himalayan nation of 30 million people.
- Police crackdowns escalated unrest, leaving more than 2,700 structures torched and damaging Singha Durbar, the Prime Minister's office, the Supreme Court and Parliament House, with burned vehicle remains stored on parliament premises.
- An official committee estimated rebuilding would exceed 252 million, and reconstruction of Singha Durbar and other key buildings has already begun.
- Macroeconomic forecasts were downgraded after the unrest, with FNCCI estimating over $278 million in losses, nearly 15,000 jobs lost, and FDI down to $14 million.
14 Articles
14 Articles
Ousted Nepal PM’s party holds biggest rally since Gen Z protests
By Gopal Sharma KATHMANDU, Dec 13 (Reuters) – Tens of thousands rallied for the party of Nepal’s ousted prime minister, K.P. Sharma Oli, on Saturday, in the largest gathering in the Himalayan country since youth-led anti-graft protests forced him out three months ago. Police estimated 70,000 attended the rally in Bhaktapur near the capital Kathmandu to launch a three-day convention of the Communist Party of Nepal (Unified Marxist–Leninist). Org…
Nepal Counts $586 Million Economic Blow from ‘Gen Z’ Anti-Graft Protests
Nepal’s government says the youth-led anti-corruption protests that erupted in September and ultimately forced Prime Minister K.P. Sharma Oli to resign have inflicted more than $586 million in damage on the country’s $42 billion economy. The demonstrations, driven largely by Gen Z activists frustrated with political corruption, spiralled into nationwide unrest that left 77 people […] The post Nepal Counts $586 Million Economic Blow from ‘Gen Z’ …
Former Nepal PM Oli attacks Karki govt, makes sarcastic remarks about India
Kathmandu, Dec 13 (PTI) Deposed Nepal prime minister K P Sharma Oli on Saturday criticised the Karki-led interim government for “biased and unconstitutional practices” and also made sarcastic remarks against India albeit without naming the neighbour. Addressing a public meeting, the first after he was forced to resign three months ago following a Gen Z-led protest, Oli claimed that his Communist Party of Nepal - Unified Marxist–Leninist (CPN-UML…
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