Nepal's Political Dilemma

Demonetization of currency in India has already shaken Nepal badly. As a closest neighbor with many business transactions and individual interactions, how Indian economy will turn out to be and how India will maintain the cash flow in the coming days

Dec. 17, 2016, 5:45 p.m. Published in Magazine Issue: Vol.10, No.9, December. 16, 2016 (Poush 01,2073)

The year 2016 has seen many interesting events globally. At the end of the year, we can expect that 2017 will bring more prosperity and tranquility in the world, which appears to be heading towards a radical transformation in 2017. Two events, the presidential elections of the United States of America and the results of Brexit, will be shaping the days ahead. Demonetization of currency in India has already shaken Nepal badly. As a closest neighbor with many business transactions and individual interactions, how Indian economy will turn out to be and how India will maintain the cash flow in the coming days will make a difference to the Nepalese economy. The emergence of China as the world’s largest economy will have global and regional implications as well. US President elect Donald Trump, who will take the reign of Washington in January 21 and his announcements will shake the global economy. For Nepal, which has been passing through a prolonged political instability with no immediate solution for the near future, the time ahead will be as bumpy as it was. As the global order is changing and new economic order is likely to emerge, a very painful situation could be in store for Nepal’s economy. One of the dangers in Nepal is that there is a huge gap in understanding between an overwhelming number of youth population and the political leadership. In the backdrop of all these scenarios, we have decided to cover the flow of remittances and their implications to the Nepalese economy as our cover story for this week.

It was a matter of pride for New Spotlight family that Ambassador of Federal Republic of Germany to Nepal Matthias Meyer and Ambassador of Republic of France to Nepal Yves Carmona visited our office separately over the fortnight. We had the privilege to brief them about how small newspapers and magazines were running in Nepal and how they contributed to the country's social and economic development. Their visits have encouraged us to continue our work in an independent, free and objective manner. As Nepalese Christians are celebrating the Christmas and others are celebrating the New Year 2017, New Spotlight family also wishes a Merry Christmas and Happy New Year 2017 to all our readers and patrons.  

 

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