US envoy, ADB, IMF Mission heads discuss economic issues with Minister Khanal

 By A Staff Reporter,Kathmandu, Sept. 23: Finance Minister Rameshore Prasad Khanal held separate discussions with the US Ambassador to Nepal, the Country Director of the Asian Development Bank (ADB) and the Nepal Mission Chief of the International Monetary Fund (IMF) in the wake of the changing political situation in Nepal.

According to the Finance Ministry, the discussions focused on economic stability in Nepal, continuity of development projects, good governance and job creation.

Ambassador of United States of America to Nepal Dean R. Thompson paid a courtesy call on Finance Minister Khanal.

During the meeting held at the Ministry of Finance on Monday, they discussed the current changing situation in Nepal and the assistance that the United States of America could provide to Nepal in this situation.

Minister Khanal said that the main task of the current government formed under special circumstances was to hold elections on time, and to boost the morale of the private sector through reconstruction plans and concessional packages.

The US Ambassador Thompson expressed his condolences and sympathy to the families of those who lost their lives in the recent incident and said that the US government stood with Nepal in this situation.

In addition, the US Ambassador noted that Nepal government's further commitment was needed in completing the projects being implemented by MCA Nepal, which are being run with the support of MCC, on time.

Finance Minister Khanal assured that there would be no delay in the work to be done by the government for the successful implementation of these projects.

On the occasion, Minister Khanal appreciated the continuous support from the US government for Nepal's socio-economic development and expressed hope that such support would continue in the future as well.

Finance Secretary Ghanashyam Upadhyaya, Joint Secretary and Chief of Foreign Aid Coordination Division of the Ministry of Finance Dhani Ram Sharma, officials of the Ministry of Foreign Affairs and officials of the US Embassy were also present in the meeting.

Meanwhile, Country Director of Asian Development Bank Arnaud Cauchois paid a courtesy call on Finance Minister Khanal on Monday.

In the meeting held at the Ministry, Country Director Cauchois discussed with the Finance Minister the impact of the political developments in Nepal on the economy and the continuation of programmes implemented with the support of the Asian Development Bank, the ministry said.

Finance Minister Khanal said that the main responsibility of the current government was to hold elections to the House of Representatives on time and that the government was committed to good governance and creating employment in the country in line with the wishes of the youth in these changing times.

Highlighting the important role played by the Asian Development Bank in the areas of energy, physical infrastructure, drinking water and various development projects, FM Khanal expressed his commitment to continue the ongoing projects.

ADB Country Director Cauchois said that the Bank was ready to work with the current government in the area of ​​economic development in Nepal.

Similarly, Finance Minister Khanal and the Nepal Mission Chief of the International Monetary Fund (IMF) Jahan Sarwat held a virtual meeting today.

In the meeting, Mission Chief Jahan Sarwat discussed with the Finance Minister the impact of the recent political developments in Nepal on the economy and the continuation of economic reform programmes, according to the ministry.

Finance Minister Khanal said that the main task of the current government formed under special circumstances was to hold the elections to the House of Representatives on time and that the government was committed to good governance and creating jobs in the country, as expressed during the recent protest led by the Gen-Z youth.

He said that the ongoing economic reform programmes would be further accelerated on the advice of the International Monetary Fund.

On the occasion, they discussed the status of the implementation of the Extended Credit Facility being implemented with the support of the International Monetary Fund and its sixth review report would be submitted to the International Monetary Fund Board meeting soon.

Jahan said that IMF was ready to work with the new government on economic reform programmes. 

IMF Resident Representative to Nepal, Pranav Gupta, was also present on the occasion.