Nepal Rastra Bank (File photo)
KATHMANDU: It has been revealed that Finance Minister Janardan Sharma piled pressure on the governor of Nepal Rastra Bank Maha Prasad Adhikari to make public that the country’s economic condition is on the right track.
Earlier, the NRB had published a report showing that the economic condition of the country is deteriorating.
A report made public by the central bank of Nepal on Wednesday has shown that the country’s economic condition is positive.
The remittance which is the main backbone of the Nepal’s economy is on the decreasing trend. The capital expenditure has not shown any signs of improvement. Loan distribution has come almost to a complete halt.
“In this economic condition of the country, the NRB has made an economic report public through a press meet showing that the country’s economic condition is on the right tract following the pressure by Finance Minister Janardan Sharma,” said an official of the Finance Ministry.
NRB has procured the treasury bills of the banks and financial institutes (BFIs) and sent the cash to the banks indicating that there is no cash in the banks. Banks running out of cash is a critical issue, say bankers.