When Nepal promulgated its new constitution in 2015, it was a watershed moment. The country was officially declared a federal democratic republic on the night of September 20 that year. The long turbulent political transition was effectively over.
A new era had begun—one of hope, peace and prosperity. The country dreamt of spurring economic growth and eliminating poverty.
Unfortunately, that sense of hope and aspiration was upended by the Covid-19 pandemic. The country recorded an economic recession in almost 40 years. Unemployment and poverty soared.
While the impact of Covid-19 was felt the world over, many countries have already weathered what seems to be the worst of the crisis and they are on the road to recovery.
It is high time that Nepal also built a viable economic road map out of this pandemic. For this, we must identify the challenges, explore potentials for economic growth and take meaningful initiatives. And we can start from here.