KATHMANDU, Aug 13: As COVID-19 crisis grapples the world economy, signs of recession are visible here in Nepal as well. Major business thoroughfares in Kathmandu Valley including New Road and the old market of Asan look almost deserted as the flow of customers has declined significantly due to the adverse impact of COVID-19.
Unable to pay expensive rent, a large number of businesspersons in the area have decided to permanently shut their businesses and go home until the impact of COVID-19 is over. As a result, to-let signs and pamphlets are found pasted on the walls and shutters of almost each building, indicating business activities in the Valley have been hit hard by this global pandemic.
Businesspersons across Nepal are facing a tough time after the government enforced a 120-day long nationwide lockdown to contain the spread of the COVID-19. The business activities that were left battered by the four-month long lockdown has shown no sign of bouncing back anytime soon.
The situation got further worse as all businesspersons were forced to close their shops after the government authorities decided to seal the area after a few cases of COVID-19 were traced. People then grew further reluctant to visit this area to buy goods, leaving businesspersons here no option but to permanently close their businesses.
Here are some photos taken by photojournalist Monika Malla on Thursday afternoon.