Key Facts

GDP (ppp) per CAPITA

$1,100 (2008 est.)

Inflation Rate

7.7% (2008 est.)

Population

28,563,377 (July 2009 est.)

Country Risk Ratings

D

Ease of Doing Business

121/181

Global Competitiveness

3.37/134

Country Map

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gE Network

There are 15 members in the
gE Network for this country.

Nepal : Introduction

In 1951, the Nepalese monarch ended the century-old system of rule by hereditary premiers and instituted a cabinet system of government. Reforms in 1990 established a multiparty democracy within the framework of a constitutional monarchy. An insurgency led by Maoist extremists broke out in 1996. The ensuing ten-year civil war between insurgents and government forces witnessed the dissolution of the cabinet and parliament and assumption of absolute power by the king. Several weeks of mass protests in April 2006 were followed by several months of peace negotiations between the Maoists and government officials, and culminated in a November 2006 peace accord and the promulgation of an interim constitution. Following a nation-wide election in April 2008, the newly formed Constituent Assembly declared Nepal a federal democratic republic and abolished the monarchy at its first meeting the following month. The Constituent Assembly elected the country's first president in July. The Maoists, who received a plurality of votes in the Constituent Assembly election, formed a coalition government in August 2008.

Nepal: Nepal Stock Exchange

Sources:
CIA World Factbook (September 2009)
U.S. Dept. of State Country Background Notes (January 2009)