KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
NTB starts survey to assess COVID-19 impact on tourism sector
The Nepal Tourism Board (NTB) has started a survey to assess the impact of novel coronavirus impact on the country’s tourism sector.
Chief Executive Officer (CEO) of NTB Dhananjaya Regmi said that the survey will be conducted extensively to find out the exact data about the impact on the tourism sector.
According to NTB, the survey will particularly cover eight sectors such as hotels, airlines, restaurants, tourist vehicles, trekking, rafting companies, mountaineering, travel and tourism, among others.
WHO says no evidence suggests BCG vaccine can protect against COVID-19
The World Health Organization (WHO) says there is no evidence that the Bacille Calmette-Guerin (BCG) vaccine, which is primarily used against tuberculosis, protects people against infection with the novel coronavirus.
The WHO, therefore, didn’t recommend BCG vaccination for the prevention of COVID-19 in the absence of evidence.
WHO stated that there is experimental evidence from both animal and human studies that the BCG vaccine has non-specific effects on the immune system.
These effects have not been well characterized and their clinical relevance remains unknown.
Nepal govt seeks Chinese support for purchase of medical supplies
Minister for Foreign Affairs Pradeep Gyawali has urged for China’s cooperation and facilitation for the purchase of essential medicines and medical equipment on a G-to-G basis.
Minister Gyawali requested this in a telephone conversation with State Councilor and Minister of Foreign Affairs of the People’s Republic of China, Wang Yi. Foreign Minister Yi assured of China’s cooperation and necessary facilitation for the purchase of medicines and medical equipment to Nepal.
Relief and economy promotion package study committee formed
The Ganeshman Singh Study Foundation has constituted a study committee to suggest on relief and economy promotion package declaration and distribution in the context of the economic impact of the coronavirus (COVID-19) in the country.
The committee is chaired by Foundation Chair and former Minister for Industry, Nabindra Raj Joshi.
The committee will carry out a study on the impact of coronavirus pandemic on different sectors of the economy and the type of impact on each sector.
It will also present suggestions and recommendations regarding the upcoming economic policy in the context of the COVID-19 impact to the government on the basis of the study and analysis carried out by various economists and planners.
IMF cancels debt payments for six months for 25 nations including Nepal
To tackle the COVID-19 pandemic, the International Monetary Fund (IMF) approved $500 million to cancel six months of debt payments for 25 of the world’s most impoverished countries so they can help tackle the COVID-19 pandemic.
IMF Executive Director Kristalina said that the IMF executive board approved the immediate debt service relief for Nepal, 19 African countries, Afghanistan, Haiti, Solomon Islands, Tajikistan and Yemen in a statement.
Georgieva said, “This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months and will help them channel more of their scarce financial resources towards vital emergency medical and other relief efforts.”
She said the money will come from the IMF’s revamped Catastrophe Containment and Relief Trust, which will use recent pledges of $185 million from the United Kingdom and $100 million from Japan. She urged other donors to help replenish the trust’s resources.
(Compiled and prepared by Swastik Aryal and Nitish Lal Shrestha)
Nepal Economic Digest is a daily morning email digest, basically relatable summations of the most important business news, happenings from Nepal into easy-to-understand summaries. The Institute for Strategic and Socio-Economic Research (ISSR), Nepal’s independent think tank, and Khabarhub — Nepal popular news portal — have joined hands to disseminate news from Nepal in the form of Economic Digest.
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