WB hails Nepal’s monetary policy

By A Staff Reporter,Kathmandu, June 10: Visiting Vice President of the World Bank for the South Asia Region Martin Raiser and  Governor of Nepal Rastra Bank (NRB) Maha Prasad Adhikari Friday discussed the monetary and fiscal policy of Nepal.

In the meeting held at the governor’s office, they discussed the current economic and financial situation of Nepal, the challenges facing the financial sector, the development of electronic payments and the future economic course, according to a press statement issued by the NRB.

Governor Adhikari informed Raiser about the current financial situation of Nepal along with the policy priorities of Nepal Rastra Bank, including financial inclusion, regulatory and supervisory reform efforts, development of the electronic payment system.

On the occasion, Vice President Raiser praised the monetary policy and other policy arrangements adopted by the Nepal Rastra Bank and expressed the view that the World Bank had taken the improvement seen in the external sector and liquidity situation in Nepal positively.

He said that the World Bank is committed to providing necessary assistance in the promotion of green finance and microfinance, the promotion of electronic payments and the prevention of money laundering along with the improvement of the overall financial sector of Nepal.

During the meeting, monetary policy and financial policy coordination, credit status, economic growth and other issues were also discussed.

In the meeting, Deputy Governors Dr. Neelam Dhungana Timsina and Bam Bahadur Mishra along with senior officials of the central bank were present.

Similarly, World Bank Country Director for Nepal Faris Hadad Zervos, Operation Manager Lada Strelkova, International Finance Corporation, Nepal Representative Babacar Sedikh Faye and other officials were present.