Kathmandu, October 21: Nepal Rastra Bank (NR) has informed the International Monetary Fund (IMF) and the World Bank (WB) on the effects of the COVID-19 pandemic on Nepal’s economy as well as on the policy provisions adopted to mitigate them.
“In the annual joint meeting of these two multilateral lending institutions held from October 12 to 18 through online, Governor of the NRB, Maha Prasad Adhikari, did so,” read a press release issued by the NRB on Tuesday (October 21).
Likewise, Governor Adhikari held discussions with Alfonso Garcia, Vice President of the International Financial Corporation (IFC)’s Asia pacific Region.
On the occasion, the IFC vice president inquired about the institutional restructuring of Nepal’s financial sector, enhancement of the fiscal capacity, investments in the hydropower sector and issuing bonds in domestic currency, among other topics, according to the release.
The NRB Governor also participated in the discussions with the IMF representative on the adverse impacts of the pandemic on the country’s economy and public health.
NRB Economic Research Department Executive Director and Spokesman, Dr Gunakar Bhatta participated in the meeting with IMF’s Monetary and Capital Market Department through virtual means on the occasion.
