Soumya Bhowmick
Nepal’s new government took office at a moment when the country faces both political transformation and economic fragility. Nepal is not in outright crisis – yet – but the risks are real. The Shah government carries a historic democratic mandate while simultaneously confronting an external shock originating in West Asia that threatens the remittance mechanism sustaining its balance of payments.
In September 2025, youth-led protests toppled Prime Minister K.P. Sharma Oli and set Nepal on the path to fresh elections. The administration of Balendra “Balen” Shah was sworn in late March 2026 as the country’s 47th and youngest prime minister. Shah barely settled into office before colliding with a severe disruption to the remittance economy on which Nepal depends more than almost any other nation in the world.
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