Nepal's prime minister announced his resignation Wednesday, bowing to pressure from opposition Maoists who have been demanding his ouster in parliament and in street protests.

Prime Minister Madhav Kumar Nepal said in a televised speech that he decided to resign to end a political deadlock and shore up the peace process that ended years of Maoist insurgency in the Himalayan nation.

The Maoists, the former communist rebels who won the most seats in 2008 elections, have been protesting for months demanding his resignation and a new national government headed by them.

"I had frequently urged the political parties including the Maoists to find an appropriate way out of the present deadlock and forge a consensus. But no agreement has been reached so far," Nepal said. "As it would be inappropriate to further prolong the situation of confusion and indecision, I decided to resign from the post of prime minister to help accomplish the tasks of constitution drafting and the peace process."

Nepal met President Rambaran Yadav immediately after the speech and presented his official resignation letter, the president's office said.

The Maoists welcomed the announcement.

"The prime minister should have resigned a lot earlier. However, we welcome the resignation," Maoist spokesman Dinanath Sharma said, adding the party has called a meeting of its top leaders on Thursday to decide its next move.

 

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