Kathmandu. Governor Prof. Dr. Bishwanath Poudel has said that the recent political situation has added challenges to the fiscal balance and sustainable economic growth.
He made the remarks while addressing the 48th SAARC Finance Governors Group meeting in Washington DC on Tuesday. Addressing this challenge, he informed the meeting that efforts have been made for policy facilitation for the revival and dynamism of the economy.
Dr. Despite the volatility, Nepal’s inflation and external sector indicators are comfortable, Poudel said.
The SAARC Finance Governors Group meeting was held on the sidelines of the annual meeting of the World Bank and the International Monetary Fund (IMF) in Washington DC. Bangladesh Bank Governor Dr. Asan H. The meeting was chaired by Mansoor and discussed on the effectiveness of SAARC Payment Council, financial inclusion in the region, possibilities of currency swap among SAARC countries, common research and data system, SAARC scholarships and the future course of action.
The central bank governors on the occasion stressed the need to make coordination and cooperation among the SAARC member states on contemporary issues in the economic and financial sector more effective in the coming days.
Delivering the opening remarks at the meeting, Governor Mansoor stressed on the need for regional cooperation and exchange of good practices among the central banks in the South Asian region
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He said that it is SAARC Finance. On the occasion, the participating central banks made presentations on the current economic and financial situation of their respective countries.
The meeting handed over the chairmanship of SAARC Finance to the Royal Monetary Authority of Bhutan.
The meeting was attended by central bank governors, deputy governors, officials of the Ministry of Finance and other representatives from the South Asian region.
SAARC Finance is a network of central bank governors and finance secretaries of the South Asian Association for Regional Cooperation (SAARC). SAARC Nations
SAARC Finance was established in 1998 with the objective of discussing macroeconomic policy and exchanging mutual assistance. The eleventh SAARC Summit held in Kathmandu in January 2002 officially recognized SAARC finance.
