By Muna Chand
Kathmandu, April 8
Brushing aside reports that the country was heading into an economic slump, the central bank of the country, Nepal Rastra Bank (NRB) has said the overall economic situation of the country is not in tailspin.
At a program organized by the Reporters’ Club in the federal capital on Thursday, Executive
Director of NRB Gunakar Bhatta, who is also the spokesperson of the central bank, stated that although the economy witnessed some stress due to liquidity and inflation, the pillars of the economy are still strong. He admitted that Nepal’s economy is experiencing impacts of the Russia-Ukraine war, which has affected the country’s supply system.
Bhatta further informed that although the foreign exchange reserve is slightly lower than the corresponding period of the last fiscal year, there is no need to panic at all. As the COVID-19 impact is subsiding, positive changes would be seen in the economy, Bhatta claimed.
The government has tightened the import of luxury goods. “Currently, we have the reserve that suffices for the import of goods and services for six and a half months,” he said.
