Nepal Rastra Bank Governor Dr. Bishwa Paudel Unveils Monetary Policy for FY 2083/84
Summary
Nepal Rastra Bank Governor Dr. Bishwa Paudel introduced a shorter-than-usual monetary policy for FY 2083/84, emphasizing a supportive role to the government's fiscal policy with a target of 11 percent credit expansion to help achieve 7 percent economic growth.
Key Points
- Nepal Rastra Bank Governor Dr. Bishwa Paudel unveiled the monetary policy for fiscal year 2083/84 before the fiscal year began, breaking tradition.
- The new monetary policy is brief, focused, and designed to support the government's fiscal policy rather than act as the main economic solution.
- Former governor Chiranjibi Nepal supports the approach, noting the central bank's intention to play a supportive rather than leading role.
- The policy targets an 11 percent credit expansion and aligns with the government's 7 percent economic growth goal, considering Nepal's large informal economy.
