Himal Press 
KATHMANDU: International Monetary Fund (IMF) conducted a weeklong visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the program supported by the fund. The staff team of IMF was led by Tidian Kinda.
Issuing a statement at the conclusion of its visit, the team said Nepal’s growth is projected to rebound, inflation is expected to recede, and the external position will continue to strengthen in FY2023/24 following an economic slowdown last year. “Cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability,” the statement said, adding: “Continued vigilance on banks’ asset quality and stepping up supervisory efforts remain key to preserving financial stability.”
According to the IMF staff team, prudent execution of the budget is crucial to secure fiscal sustainability.
The team has hailed Nepal’s ongoing efforts in meeting key commitments under the IMF-supported program. “Performance under the program will be formally assessed in the context of the third review of the Extended Credit Facility, which is expected to be undertaken later this year,” it added.
During its stay in Nepal, the IMF team held meetings with the Minister of Finance Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Dr Min Bahadur Shrestha, and other senior government and central bank officials, as well as the representatives of the private sector and development partners.
