Nepal prepares for second Sovereign Credit Rating

Kathmandu, Aug 25: Nepal is preparing to undergo its second Sovereign Credit Rating (SCR).     

A meeting held on Monday at the Ministry of Finance discussed preparations for the upcoming rating and agreed to highlight the country's achievements to date.     

During the meeting, Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel instructed officials to prepare in a way that highlights the significant progress Nepal has made over the past year.     

According to the Finance Minister’s Secretariat, the preparations will prioritise improvements in the economy, policing and legal reforms, good governance, political stability, as well as achievements in infrastructure, particularly in roads, tourism, and hydropower.     

Vice Chairperson of the National Planning Commission Prof Dr Shiva Raj Adhikari, member Dr Prakash Kumar Shrestha, Nepal Rastra Bank Governor Dr Bishwo Nath Poudel, Finance Secretary Ghanashyam Upadhyaya, and Revenue Secretary Dinesh Kumar Ghimire were among those present at the meeting.     

Mahesh Bhattarai, Chief of the Economic Policy Analysis Division at the Ministry of Finance, gave a presentation highlighting the progress made so far in preparation for the SCR.     

The global credit rating agency Fitch is responsible for conducting Nepal’s Sovereign Credit Rating. A team from the agency is scheduled to arrive in Nepal soon. In last year’s assessment, Nepal received 'BB-' rating. (RSS)