Monetary policy aimed at advancing economic growth unveiled

Kathmandu, July 24 . Nepal Rastra Bank (NRB) has introduced the Monetary Policy for fiscal year 2019/20 that aligns with the 15th national plan of the government of Nepal as well as the budget for the year. The monetary policy unveiled Wednesday aims at pursuing the economic growth as targeted in the new budget, achieving financial stability, expanding people’s access to finances and the like.

NRB Governor Chiranjivi Nepal, launching the Policy, said that Nepal was enthusiastically moving in the path of economic growth and expanding its internal economic activities.

Stating that Nepal had the opportunity to take advantages from the development and progress made by her two immediate neighbours that are surging economically, Governor Nepal admitted that it was challenging to achieve overall economic stability by supporting the economic growth trend.

The policy also intends to encourage the prudent usage of loan through strengthening of the financial sector where pressure was seen forming in inflation and deficit balance of payment.

The Governor presented the 148-point Monetary Policy analyzing the pros and cons of the new budget and current financial situation of the country.

It is also centered on financial sector programme, monetary management, access to finance, targets of the economic and monetary policy.