Recently, a team of the International Monetary Fund (IMF), concluded a visit to Nepal (11-22 September, 2022) and, discussed macroeconomic policies and implementation of it’s Extended Credit Facility (ECF)-supported program.
The IMF staff team led by Sarwat Jahan issued a statement on 23 September, 2024 after the conclusion of the visit. The statement gives a positive note saying Nepal’s economy is showing early signs of recovery and that enhancing the economic reforms ‘is critical to put the economy on a path towards sustainable, strong, and inclusive economic growth.’
“Nepal’s economy is showing early signs of recovery. Incoming high-frequency data shows import growth is entering into positive territory, tax collections are improving, and public investment is picking up. Credit growth is recovering while remaining appropriately below nominal GDP growth. Inflation continued to decelerate to around 3.6 percent by mid-July, partially reflecting favorable commodity prices and weak demand. International reserves continued to rise, underpinned by robust remittances, recovering tourism, and still subdued imports.” …
Read full statement from the IMF Press Centre in text & audio – https://www.imf.org/en/News/Articles/2024/09/23/pr24339-imf-staff-concludes-visit-to-nepal
Source- IMF Press centre, 23 September, 2024.
