The Banker magazine – releasing a press statement today – said that it has selected Mahat as the best finance minister in Asia Pacific region and globally too.
Liberal economist Mahat is the first to be recognised as the global 'Best Finance Minister' by The Banker magazine in South Asia.
Earlier in 2011, then Indian finance minister current Indian president Pranab Mukherjee was awarded best finance minister in Asia Pacific region.
Mahat is credited for making significant contributions in garnering foreign aid to Nepal in aftermath of the devastating earthquakes on April 25 and May 12.
The award has been given for Mahat and his team's 'significant work carried out following the catastrophic earthquakes this year, his pro-activity in making Nepal's challenges known after the natural disasters, and the resilience of Nepal's economy following these calamities', the press statement by the UK's reputed The Banker magazine in its January 2016 edition further reads.
His team had prepared Post-Disaster Needs Assessment (PDNA) report and organised International Conference on Nepal's Reconstruction (ICNR) within the two months of the devastating earthquakes. After the earthquake, the-then finance minister Mahat had played an important role in making positive amendments in the existing banking laws and in providing loans to youth at concessional rates.
"This decision was the outcome of our discussions here at the magazine, and a survey of views among bankers and economists. Many congratulations to you and your colleagues,” read letter sent by the London-based magazine to Mahat. "Survey respondents pointed to the significant work you and your team carried out following the catastrophic earthquakes this year, your pro-activity in making Nepal’s challenges known after the natural disasters, and the resilience of Nepal’s economy following these calamities."
“The Banker‘s Finance Minister of the Year 2016 awards celebrate the officials that have best managed to stimulate growth and stabilise their economy,” the London-based magazine has posted on its website. The magazine is planning to present the award to Mahat, in person, in Nepal sometime this year.
Mahat, a Nepali Congress stalwart, was the Finance Minister for Nepal since February 2014 to October 2015 in the Sushil Koirala-led government. It was his sixth inning at the Finance Ministry since 1994. The pro-reformist Mahat is also credited for his economic reforms during the 1990s that opened the country for foreign investors in various sectors pushing the economic growth to 7.5 per cent before the Maoists started armed revolution.
The Banker has been the premier monthly magazine on global finance since 1926, and is owned by the world-renowned Financial Times group.
Taiwan’s Chang Sheng-ford was named global finance minister of the Year 2015 by The Banker. Chang was picked best finance minister globally and in the Asia-Pacific region too for 2015.