“Sovereign rating has made govt, private sector, investors enthusiastic”

KATHMANDU: The finance ministry has said that the sovereign credit rating results have generated enthusiasm among the government, private sector and investors.

Organizing a press meet after rating agency Fitch assigned Nepal a BB- IDR rating with stable outlook on Friday, the ministry said Nepal’s sovereign rating indicates that the country’s economic structure, public finance mobilization, and overall economic and financial conditions are investment-friendly and advanced.

“Compared to the rating results of other South Asian countries, Nepal’s rating is satisfactory. This has created enthusiasm for the government, private sector, and all investors,” the ministry said in a statement.

The ministry expects increased investment in major projects across infrastructure, tourism, agriculture, and service sectors in the coming days, as the results have established Nepal as having a favorable investment environment and enhanced foreign investor confidence.

“The rating has demonstrated Nepal’s high creditworthiness, strong financial and economic capacity, and created conditions for obtaining loans at lower interest rates from international markets,” the ministry said. “This will help boost private sector confidence and attract foreign investment.”

Minister for Finance, Bishnu Prasad Poudel, said that the country rating has brought favorable results for Nepal. “This is a matter of pride, and building on this result, we will play a role in making Nepal’s economy stronger, and even more conducive to investment,” Poudel said.