Ludwig von Mises Institute

Nepal

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Country summary

Capital

Kathmandu

Borders

China 1,236 km, India 1,690 km

Government type

federal democratic republic

Population

28,563,377 (July 2010 est.)[1]

Population growth

1.281% (2010 est.)[1]

Life expectancy

65.46 years[1]

Unemployment

46% (2008 est.)[1]

Index of Economic Freedom

130[2]

Corruption Perceptions Index

143[3]

Doing Business ranking

123[4]


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, but resigned in May 2009 after the president overruled a decision to fire the chief of the army staff.[1]

Economical characteristics[edit]

  • Currency: Nepalese Rupee (ISO code: NPR)
  • Central bank discount rate: 6.5% (31 December 2009)[1]
  • Commercial banks lending rate: NA%[1]
  • Stock of money (M1): $2.53 billion (31 July 2009)[1]
  • Quasi money (with M1 makes M2): $7.49 billion (1 April 2009)[1]

Notable events:[edit]

Statistics[edit]

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[6] 5 034 5 494 5 596 6 051 6 330 7 274 8 130 9 074 10 283 12 615
Govt. debt (% of GDP)[7] 64.068 64.573 63.327 63.935 62.588 59.416 51.765 49.689 42.958 43.653
Govt. revenue (% of GDP)[8] 10.149 10.620 11.220 10.503 10.905 11.138 11.548 10.744 11.863 12.259
Govt. expenses (% of GDP)[9] 14.596 15.063
Debt to revenue (years) 6.313 6.080 5.644 6.087 5.739 5.335 4.483 4.625 3.621 3.561

References[edit]

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Factbook. "Nepal", from The World Factbook. Referenced 2010-09-30.
  2. ↑ Heritage Foundation. "Nepal", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  3. ↑ Transparency International. "Nepal", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-30.
  4. ↑ Doing Business. "Nepal", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  5. ↑ Carmen M. Reinhart and Kenneth S. Rogoff. "This Time is Different", Princeton University Press, ISBN 978-0-691-14216-6, p. 375. (The list does not claim to be complete.) Referenced 2011-07-21.
  6. ↑ World Bank. "Nepal: GDP", from World Bank Data. Referenced 2010-09-30.
  7. ↑ World Bank. "Nepal: government debt", from World Bank Data. Referenced 2010-09-30.
  8. ↑ World Bank. "Nepal: government revenue", from World Bank Data. Referenced 2010-09-30.
  9. ↑ World Bank. "Nepal: government expenses", from World Bank Data. Referenced 2010-09-30.

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