The International Monetary Fund (IMF)’s deputy managing director has advised some tightening of liquidity conditions to guard against risks of rising inflation and to reduce inflation expectations.
Deputy managing director of IMF Naoyuki Shinohara stated that IMF supports the authorities in their efforts to improve regulation and supervision to ensure financial stability, while expanding access to financial services.
“The upcoming assessment under the Financial Sector Assessment Programme (FSAP) that the IMF and World Bank will jointly conduct will contribute to mapping out further reform steps,” his parting statement said. FSAP will begin in late November here in Nepal.
He has also expressed his support regarding the aim of Nepali authorities to boost the economy’s potential, including by taking advantage of the resource inflows from remittances. “Important contributions in this regard can be made by raising public capital spending and improving the business climate to create an attractive environment for private investment,” he suggested.
Shinohara was in Kathmandu to attend the 49th SEACEN Governors’ Conference and High-Level Seminar. During his stay, he held meetings with Nepal Rastra Bank governor Dr Yubaraj Khatiwada and finance minister Shanker Koirala and their discussions focused on ways to accelerate and sustain growth, and ensure macroeconomic and financial stability.
He also lauded the progress made by Nepali authorities in achieving the Millennium Development Goals — particularly on poverty reduction and on health and sanitation, congratulating the authorities and the people of Nepal on the successful completion of the Constituent Assembly election.
He has assured that the IMF will continue to support the authorities through policy advice and technical assistance in their work to maintain economic stability and to accelerate growth. Shinohara also laid emphasis on increasing access to financial services. “Increasing financial inclusion is especially critical for countries where social vulnerabilities have recently increased.”
source:the himalayan times,23 Nov 2013
LINK
Deputy managing director of IMF Naoyuki Shinohara stated that IMF supports the authorities in their efforts to improve regulation and supervision to ensure financial stability, while expanding access to financial services.
“The upcoming assessment under the Financial Sector Assessment Programme (FSAP) that the IMF and World Bank will jointly conduct will contribute to mapping out further reform steps,” his parting statement said. FSAP will begin in late November here in Nepal.
He has also expressed his support regarding the aim of Nepali authorities to boost the economy’s potential, including by taking advantage of the resource inflows from remittances. “Important contributions in this regard can be made by raising public capital spending and improving the business climate to create an attractive environment for private investment,” he suggested.
Shinohara was in Kathmandu to attend the 49th SEACEN Governors’ Conference and High-Level Seminar. During his stay, he held meetings with Nepal Rastra Bank governor Dr Yubaraj Khatiwada and finance minister Shanker Koirala and their discussions focused on ways to accelerate and sustain growth, and ensure macroeconomic and financial stability.
He also lauded the progress made by Nepali authorities in achieving the Millennium Development Goals — particularly on poverty reduction and on health and sanitation, congratulating the authorities and the people of Nepal on the successful completion of the Constituent Assembly election.
He has assured that the IMF will continue to support the authorities through policy advice and technical assistance in their work to maintain economic stability and to accelerate growth. Shinohara also laid emphasis on increasing access to financial services. “Increasing financial inclusion is especially critical for countries where social vulnerabilities have recently increased.”
source:the himalayan times,23 Nov 2013
LINK
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