By Karuna Thapa
Kathmandu, April 12
Former Governor of the Nepal Rastra Bank, Dr. Chiranjeevi Nepal, has said firmly that the
Nepalese economy is not in the way of Sri Lanka. He also stated that Nepal’s present economic problems would be handled soon.
Dr. Nepal has said that he is hopeful that the present crisis will be handled soon in an interview given in the capital on Tuesday. ”The issue is not the current state of the economy,” he explained. ”The present issue will be resolved shortly.”
He also stated that Nepal has a little foreign debt. ”We don’t have a lot of foreign debt,” he explained. Nepal’s GDP is barely 22% of the world. We’re not heading to Sri Lanka.
Restraint is something that we should all practice. There’s no reason to be concerned right now. This issue will be resolved quickly. We haven’t yet gone to the next level. However, caution is required.’
He stated that there is a battle between the government and the governor in many nations
throughout the world. ”The government appoints the governor,” he said. The Nepal Rastra Bank is in charge of monetary policy formulation and implementation. To promote financial stability in the country, enhance the country’s balance of payments condition and payment system, and serve as a government advisor. In addition, a long-term policy to stabilize the financial system must be developed. The Ministry of Finance and the Nepal Rastra Bank should work together. All around the world, there is a disputes between the government and the governor. It happened to me as well. ”We need to go forward in terms of cooperation.”
He recalled that the central bank had acted when the budget failed to handle the after covid situation. He also pointed out that the budget and monetary policy had not arrived on time, and that interest rates had been set in the banking industry as a whole. He said that the government still had Rs 304 billion in its treasury.
