Economy Improving for Two Years After Nine-Year Decline: Governor

Governor of Nepal Rastra Bank, Dr. Maha Prasad Adhikari, stated that Nepal's economy, which had been declining for the past nine years due to the earthquake and the COVID-19 pandemic, has shown gradual improvement over the last two years. Governor Adhikari made these remarks at the "International Conference on Economics, Finance, and Related Subjects" jointly organized by the Open University of Nepal and Cardiff University in Lalitpur.

Governor's Views:

• Economic Recovery: Nepal has made progress in construction, industry, and trade over the past two years, overcoming the challenges posed by the earthquake and COVID-19.

• Financial Reforms:

  • The introduction of the interest rate corridor (2016–17) and the transition from a reserve target to an interest rate target (2020–21) have increased the effectiveness of monetary policy operations.

  • Focused on liquidity management, promoting digital banking, fintech, and developing modern payment systems.

• Sustainable Economic Growth: The central bank has improved its monetary policy operations to target the country's sustainable economic growth and emphasized the need for policy coordination.

Main Objectives of the Conference:

• Presentation of Latest Research: To bring together international researchers, practitioners, policymakers, investigators, and scholars to present the latest findings on economics, financial management, and related subjects.

• Contribution to Nepal's Academic Capacity: The conference aims to contribute to capacity building and networking among Nepalese scholars and promote quality research in Nepalese universities.

Other Speakers' Thoughts:

• Shilu Manandhar Bajracharya (Vice-Chancellor, Open University of Nepal): Emphasized that the conference will highlight important contexts for quality research in economics, finance, and related fields.

• Kul Luintel (Cardiff University): Expressed the expectation that the conference would contribute to capacity building and networking among Nepalese scholars.

Conference Highlights:

• Collaboration and Participation: Organized in collaboration with the Open University of Nepal, Cardiff University, Nepal Rastra Bank, University Grants Commission, Tribhuvan University, Kathmandu University, Pokhara University, Purbanchal University, Mid-Western University, Far-Western University, and Rajarshi Janak University.

• Topics: Focused on Nepal's development priorities, poverty reduction, decent work, and sustainable economic growth.

Conference Participation:

• Participants: 60 economists from Nepal, China, the UK, Norway, and Spain.

• Paper Presentations: 10 papers to be presented and discussed.

This conference is expected to provide evidence-based policy insights on financial stability, monetary policy, and overall financial development. Additionally, it aims to contribute to Nepal's economic and financial growth.