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Tag Archives: IMF

IMF refuses debt relief for Nepal

International Monetary Fund (IMF) has refused debt relief for Nepal as it has not met all the criterion for the debt relief. IMF spokesperson Gerry Rice today said that Nepal will not receive debt relief from a special IMF trust

NZ aid organisations call on to push for debt cancellation for Nepal

Humanitarian aid organisations are calling on the New Zealand government to advocate for the immediate and unconditional cancellation of Nepal’s foreign debt after devastating earthquake on April 25 and May 12 and subsequent aftershocks. NGO Disaster Relief Form chair Ian

Earthquake victims to get loans at two per cent

Earthquake victims will be able to get bank loans at just two per cent to reconstruct or repair their damaged houses by the devastating earthquake on April 25, according to the central bank. The borrowers, however, must have collateral to

ADB hosts Partnership Forum for Nepal, Mahat presents bleak economic picture

The Asian Development Bank (ADB) hosted a Partnership Forum for Nepal today during its 48th annual meeting to affirm international support for the country, following the devastating April 25 earthquake. At the meeting – jointly chaired by ADB president Takehiko

Nepal receives Rs 1.48 billion remittance per day

Nepal received an average of Rs 1.49 billion in remittance income on a daily basis in the last fiscal year 2013-14. The country received Rs 543.29 billion remittance in the last fiscal year 2013-14, according to the current macroeconomic situation

Spread rate of commercial banks comes down to 6.8 per cent

The average spread rate of the commercial banks came down to 6.62 per cent in the first nine months of the current fiscal year, according to central bank data. The central bank had earlier directed the commercial banks to bring

Finance Minister proposes regional power transmission lines

Finance Minister Ram Sharan Mahat proposed regional electricity transmission lines to the finance ministers of the South Asian Association for Regional Cooperation (SAARC). Mahat – speaking during an informal meeting with the SAARC ministers on the sidelines of the 47th

Per capita income Rs 71‚305; GDP growth 5.12 per cent

Though the average economic growth rate has not crossed four per cent in the last one decade, per capita income of a Nepali has been continuously increasing. Average income of a Nepali is expected to grow by 13.77 per cent

Financial sector still faces risk: IMF

Domestic risks arise from the financial sector, especially cooperatives, according to International Monetary Fund (IMF) staff mission. The mission led by Alexander Pitt to conduct the Article IV Consultation discussions met with the various actors of the economy – in

Central bank should have power to liquidate sick financial institutions

The International Monetary Fund (IMF) has suggested the government to give more teeth to the central bank and let it have power to liquidate sick financial institutions. It is necessary for the overall financial stability, advisor at IMF’s Monetary and

World Bank increasing aid to Nepal

World Bank has pledged to increase its aid to Nepal. World Bank managing director Sri Mulyani Indrawati during a meeting with finance minister Dr Ram Sharan Mahat in Washington assured him that the multilateral donor is increasing its aid to

World Bank-IMF team suggests central bank to monitor big co-operatives

Financial Sector Assessment Team of World Bank and International Monetary Fund (IMF) has asked the central bank to supervise big cooperatives as Department of Cooperatives failed to regulate them due to its lack of capacity. During an interaction with the

World Bank, IMF hold talks for Financial Sector Assessment Programme

At the request of the government and the central bank a joint mission of the International Monetary Fund (IMF) and World Bank (WB) visited Nepal from February 2-16 to conduct an evaluation of the financial system under the Financial Sector

Stress testing mandatory for B, C class financial institutions

The central bank has asked the class B and C financial institutions also to conduct stress testing from this quarter end. Earlier, a year ago, the central bank made it mandatory for the class  A commercial banks to start stress

IMF study missions discuss budget, taxation system

International Monetary Fund (IMF) missions today met with finance ministry officials and discussed on budget and tax administration reform programmes. A mission led by Eliko Pedastaar met finance secretary Shanta Raj Subedi and other the ministry officials and discussed on

Five per cent of the population has to come under tax net for healthy economy

At least five per cent of the population has to come under the tax net for a healthy economy, according to finance minister. Addressing an interaction held here yesterday, finance minister Shankar Prasad Koirala asked the private sector to take

IMF suggests to tighten liquidity to tame inflation

International Monetary Fund (IMF) has  suggested to tighten liquidity conditions to guard against risks of rising inflation and reduce inflation expectations. Deputy Managing Director of the International Monetary Fund (IMF) Naoyuki Shinohara at the concluding ceremony of the South East