Friday, April 20, 2012

Distribution of wealth will reduce social conflicts

Fair distribution of wealth between the haves and have-nots is key to reducing potential social conflicts in the future, according to finance minister Barshaman Pun.
"The financial institutions play a crucial role in not only facilitating financial access for supporting micro-industries for inclusive growth that could reduce tension between the rich and poor, but also for large national priority projects," he said, addressing the international conference on 'Economics and Finance and Role of Financial Sector Development in Economic Growth and Poverty Alleviation', organised by Nepal Rastra Bank here today.
With the finalisation of the constitution, the government's concentration will now shift towards the economy with proper vision, mission and plans for sectors that drive the economy, Pun added.
Economic and social problems generally have a domestic genesis but their ramifications, in almost all cases, cross the national boundaries in a globalised world, he said, adding, "Therefore, we need a better understanding on cross boundary problems and issues."
The two-day conference brings together economists and financial sector experts from 17 countries and includes sessions on a range of subjects related to macroeconomic management and the financial sector.
Earlier, welcoming the participants to the conference, central bank governor Dr Yubaraj Khatiwada said that public policy makers have been finding it difficult to find ways to promote a financial system that would sustain growth, while being both efficient and resilient.
"Even though Nepal's financial sector has expanded considerably after the liberalisation of the sector that began in the mid-1980s, even today, only 27 per cent of the rural households have access to financial services within a 30-minute walking distance," he said, adding that the 32 commercial banks, 88 development banks and 76 finance companies are serving some 89 per cent of urban households.
Though he hailed the financial sector for contributing to poverty reduction by almost one percentage point over the past 15 years, the agricultural sector has yet to benefit from formal financial services.
"Access to financial services enables the poor to build assets, raise incomes and reduce vulnerability to economic stresses," the governor said, adding that the central bank's strategy has been to consolidate institutional expansion along with ensuring better access to financial services.
He also stressed that the growth of the real sector was vital for the continued expansion of the financial sector and urged banks and financial
institutions to prioritise productive use of credit to promote the sector.
Representative of the International Monetary Fund (IMF) and guest speaker Faisal Ahmed, on the occasion, said that macroeconomic volatility affects the poor the most because they have lower coping abilities and urged a policy balance between development and stability.
This, he said, would be possible through regular policy dialogues and
discussions among countries with similar economies.
Ahmed also made a presentation on the 'Role of Financial Sector Development in Economic Growth and Poverty Alleviation: Policy Challenges Facing the Low-income Countries Financial Sector', stressing that both the level and quality of growth were important for poverty alleviation.
Deputy Governor of the central bank Gopal Prasad Kaphle while delivering a vote of thanks reiterated the importance of access to financial services for the poor, and for real sector growth.


Anonymous said...

This platform is integrated with social media logins like Facebook
and Yahoo; enabling customers to use their own login for
registering on the site. We had no problem finding a space, though,
despite the fact that there was a performance that night.

The pizza is a style of Italian street food stuff that travelled around Europe
and round the Atlantic Ocean as well as reached America where by it became the most famous form of
ready made meals in American heritage.

Feel free to visit my web-site ... check this out

Anonymous said...

Wow, amazing blog layout! How long have you been
blogging for? you made blogging look easy. The overall look of your site is fantastic,
as well as the content!

My web-site ::

Anonymous said...

I have been examinating out some of your posts and i must
say pretty clever stuff. I will make sure to bookmark your blog.

Stop by my web page:

Anonymous said...

wonderful submit, very informative. I'm wondering why the opposite experts of this sector do not understand this. You must proceed your writing. I'm sure, you have a great readers' base already!

Also visit my site: facebook sex

Anonymous said...

It�s really a cool and helpful piece of information.

I�m glad that you shared this helpful info with us.
Please keep us up to date like this. Thanks for sharing.

My webpage ::

Anonymous said...

F*ckin� amazing things here. I am very glad to peer your article.
Thank you so much and i am taking a look ahead to contact you.

Will you kindly drop me a e-mail?

Also visit my page ... free dating at

Anonymous said...

Hi, Neat post. There is a problem with your website in internet explorer, would test this� IE still is the market leader and
a huge portion of people will miss your magnificent writing due to
this problem.

Have a look at my web site - online singles

Anonymous said...

Fantastic goods from you, man. I have understand your stuff
previous to and you're just too excellent. I actually like what you have acquired here, really like what you are stating and the way in which you say it. You make it entertaining and you still care for to keep it sensible. I cant wait to read much more from you. This is actually a tremendous site.

Here is my web-site ::

Anonymous said...

Great beat ! I would like to apprentice while you amend your web site, how can i subscribe for a blog website?
The account helped me a appropriate deal. I were a little
bit familiar of this your broadcast offered bright clear idea

Check out my blog post: adult finder

Anonymous said...

A powerful share, I just given this onto a colleague
who was doing a little evaluation on this. And he
in fact bought me breakfast because I found it for him.. smile.

So let me reword that: Thnx for the treat! However yeah Thnkx for spending
the time to debate this, I feel strongly about it and love studying more on
this topic. If possible, as you turn out to be expertise, would you thoughts
updating your blog with more details? It is
extremely useful for me. Big thumb up for this weblog post!

Feel free to visit my web page: cyber sex

Anonymous said...

hey there and thank you to your information � I have definitely picked up anything new from proper here.
I did however expertise several technical issues the use of this site, since I skilled to reload the website many instances
previous to I may get it to load properly. I had
been thinking about if your web host is OK? Now not that I'm complaining, but slow loading circumstances occasions will sometimes have an effect on your placement in google and can harm your quality score if advertising and ***********

Also visit my web page - websites for dating

Anonymous said...