21 Oct., Kathmandu : Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has informed the International Monetary Fund and the World Bank Group on the effect of COVID-19 on Nepal’s economy and the financial sector as well as on the policy provisions adopted to mitigate it.
The central bank stated this in a press release on Tuesday. It stated that Governor Adhikari participated in the annual joint meeting of IMF and the World Bank Group through online and informed about the positive practices being done in Nepal. Governor Adhikari attended the virtual meeting held from October 12 to 18. He thanked the IMF for its economic and technical support to Nepal’s development process.
Likewise, Governor Adhikari held discussions with Alfonso Garcia, the 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.
The NRB Governor also participated in the discussions held on October 15 while during the virtual side meeting with the IMF representatives on October 16 he discussed on the adverse impact of COVID-19 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.