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Nepal's economy not like Sri Lanka's, but can go that way: Former central bank Guv
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IANS | 02 Jul, 2022
Dipendra Bahadur Chhetri, the former Governor of Nepal Rastra Bank
(NRB), has said that the situation of Nepal's economy is not like that
of Sri Lanka.
However, if the political rights are given
to the wrong persons like in Sri Lanka, there is a possibility of Nepal
becoming the next Sri Lanka, he said, Republica reported.
Speaking
at an interaction programme on the current economic situation in Nepal
held in Kathmandu, Chhetri said the present situation in Sri Lanka is
due to arbitrary tax rates imposed by the same family as the president,
prime minister and finance minister.
He also mentioned that Nepal
should not be associated with Sri Lanka as it has just held local
elections and is now preparing to hold federal and provincial elections,
Republica reported.
Similarly, the former central bank Governor
said that Nepal's foreign exchange reserves, SDRs and gold in foreign
currency accounted for seven months of imports to meet the growing
imports and consumption of petroleum products.
Likewise, he
doubted that the forthcoming monetary policy to be introduced by the NRB
would be as extensive as in the past. He said that the loans given by
the banks to expand the capacity of the industry were used for import.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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