Finance Minister Khanal, who is in Washington DC, USA to participate in the annual meeting of the World Bank and the IMF, today (Tuesday) held separate meetings with the Managing Director of the World Bank Group, Anna Bjerde, and the Deputy Managing Director of the International Monetary Fund, Bo Lee.
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Finance Minister Rameshwar Khanal has met with senior officials of World Bank and International Monetary Fund (IMF). Finance Minister Khanal, who is in Washington DC, USA to participate in the annual meeting of the World Bank and the IMF, today (Tuesday) held separate meetings with the Managing Director of the World Bank Group, Anna Bjerde, and the Deputy Managing Director of the International Monetary Fund, Bo Lee.
In a meeting with the Managing Director of the World Bank, Bejarde, Finance Minister Khanal said that the main task of the government formed after the demonstration of the Gen G group in Nepal is to promote good governance and accountability in addition to conducting elections on time.
He said that the current government is determined to intensify the institutional and procedural reforms to improve the business environment and prepare for legal reforms.
He said that the World Bank Group is continuously supporting Nepal's development efforts and the cooperation with the Bank will be further strengthened in the future.
On that occasion, the Managing Director of the World Bank, Bizerde, mentioned that the World Bank is willing to work with the interim government and discussed with the Minister of Finance about the reforms to be made in economic and development management. In the
meeting, Finance Minister Khanal said that the remaining reform works related to the extended credit facility currently being conducted in collaboration with the International Monetary Fund will be carried forward. He mentioned that cooperation with the fund will be strengthened in the future. On that occasion, International Monetary Fund Deputy Managing Director Bo Lee said that the sixth review of the extended credit facility has been successfully completed and the Fund will continue to support the future economic reforms.
Finance Minister Khana, while addressing an interaction program organized by the Nepal America Chamber of Commerce today, said that the government is determined to create an investment-friendly environment.
He said that the ambiguities in tax laws will be removed, He expressed his commitment to simplify the profit return process and ease the process of investors approving investment and closing the business.
On that occasion, the representatives of various companies mentioned that some decisions and provisions of tax laws and other regulatory bodies in Nepal have made investors uncomfortable. Finance Minister Khanal said that during the drafting of the Economic Act, there will be adequate discussion and finalization of the tax laws and policy and legal reforms will be made through adequate research and development on other issues as well.
Finance Minister Khanal met the World Bank Group's Vice President for South Asia, Johannes Jutsag, and discussed the issues of development projects currently being run by the World Bank in Nepal and the problems seen in the implementation of the three.
