After the earthquake and covid, the economy has improved: governor official

In the 'international conference based on economics, finance and related topics' held in Lalitpur on Thursday under the joint initiative of Nepal Open University and Cardiff University, Governor Adhikari said that Nepal's economy, which had declined after the earthquake and covid, is gradually improving and the construction, industry and trade sectors have made more progress in the last two years.

'Along with the financial reform of Nepal, the National Bank has also started a journey of significant operational reform in the monetary policy. These operational improvements have been gradual with the aim of increasing the effectiveness of monetary policy transmission with the launch of the interest rate corridor in 2016/17 and moving from the reserve target to the interest rate target in 2020/21,' he said. Our efforts are focused on recent policy reforms, modernization of monetary policy operations, enhancement of credit quality, emphasis on digital banking and fintech, development of modern payment system and its integration in the global market, and continuation of financial strengthening measures.

He said that the National Bank has introduced a monetary policy reflecting the sustainable economic growth of the country and this conference will help in the analytical study of the economic and monetary sector of Nepal and also help in policy making. He said that it is necessary to build a flexible financial sector by improving Nepal's macroeconomic situation and ensuring sustainable and inclusive growth in the developed global scenario.