K.P. Sharma Oli has been sworn in as Nepal’s Prime Minister for the fourth time, marking the fifth change in leadership in five years. This highlights the ongoing political instability in the impoverished Himalayan nation. The new government, a coalition between Oli’s Communist Party of Nepal (Unified Marxist Leninist) and the Nepali Congress (NC), aims to bring stability. However, analysts warn that the alliance is risky and failure to deliver governance could lead to a crisis in the political system.
Nepal’s economic development has been hindered by political turmoil, resulting in high poverty rates and a large number of Nepalese seeking work abroad. The political developments are closely watched by India and China, both of whom have significant influence and investments in Nepal. Oli’s previous term saw him strengthen ties with China by signing a transit agreement, breaking India’s monopoly on Nepal’s foreign trade.
The new government faces a challenging task of addressing Nepal’s economic woes and fostering political stability. The country’s future hangs in the balance as the new coalition navigates a complex geopolitical landscape.