NBA Engages with IMF Mission Team for 5th ECF Review

Kathmandu – The Nepal Bankers' Association (NBA) recently held a meeting with the International Monetary Fund (IMF) mission team, led by Mission Chief Ms. Sarwat Jahan, as part of the 5th Review under the Extended Credit Facility (ECF). The meeting aimed to gain insights into key financial sector trends, growth and business perspectives, regulatory challenges, and more.

NBA President Mr. Santosh Koirala provided an overview of the current state of Nepal's banking sector, emphasizing the significant challenge of low credit growth, primarily attributed to a lack of confidence among entrepreneurs. He underscored the critical role the Government of Nepal could play in addressing this issue.

Additionally, NBA Executive Committee members highlighted several pressing concerns, including land ceiling issues, rising non-performing loans (NPL), challenges in meeting directed sector lending requirements, policy uncertainty, and the need for the development of bond markets.

The IMF team acknowledged Nepal’s untapped opportunities and stressed the importance of achieving a minimum of 5-6% consistent economic growth to unlock the country’s full potential.

The meeting served as a valuable platform for both parties to gain a deeper understanding of the local and global financial landscape and to exchange perspectives on the way forward for Nepal's banking sector.

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