KATHMANDU, JUNE 1
Visiting International Monetary Fund (IMF) Mission Chief Sarwat Jahan paid a courtesy call on Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel on Sunday.
During the meeting held at the Ministry of Finance, the two discussed Nepal's economic structural issues and conducted the sixth review of the Extended Credit Facility (ECF) programme.
Nepal had secured an ECF of USD 395.9 million from the IMF in 2022 following a sharp decline in foreign exchange reserves and a significant balance of payments deficit. The loan, equivalent to 180 percent of Nepal's Special Drawing Rights (SDR) quota, is being disbursed in several tranches over four years to support budgetary needs.
An IMF mission team is currently in Nepal to conduct the ongoing review of the facility.