Nepal asks IMF to open resident office in Kathmandu

Nepal has asked the International Monetary Fund (IMF) to open resident office in Kathmandu.

During the meeting held at the IMF Headquarters in Washington DC yesterday, finance minister Shanker Prasad Koirala asked deputy director general of IMF Nayoki Sinohara to establish the resident office of IMF in Kathmandu.

He also hailed the IMF’s role in strengthening Nepal’s economy.

However, Nepali economy is bearing the burnt of strong dollar and weaking rupee that has made Nepali economy expensive, he added

Sinohara, on the occasion, promised technical support from the IMF.

Finance secretary Shanta Raj Subedi, Nepali ambassador to the US Dr Shanker Sharma, chief of foreign aid coordination division at the Ministry of Finance Madhu Kumar Marasini and Nepal Rastra Bank deputy governor Gopal Kafley are also in the Washington DC to take part in the annual meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund.