Biswo Poudel appointed NRB governor

KATHAMANDU: Economist Dr Biswo Poudel has been appointed the new governor of Nepal Rastra Bank.

The council made the decision of ministers on Tuesday based on suggestions from the Governor Recommendation Committee, which had finalised Poudel, Neelam Dhungana Timilsina, and Dinesh Bhattarai as nominees.

Poudel, a prominent economist and policy expert in Nepal, holds a Ph.D. in economics and has specialized in development economics and public policy.

He has pursued academic and research work both in Nepal and abroad, and is known for his contributions to economic planning and reform initiatives. Earlier, he had served as the Vice-Chair of the National Planning Commission, a central body responsible for formulating the country’s development strategies, policies, and five-year plans.

Additionally, he is often cited in the media and public discourse for his insights on Nepal’s macroeconomic stability, budget planning, public finance, and foreign aid effectiveness.

Previously, Nepali Congress President Sher Bahadur Deuba had assured NRB Executive Director Dr. Gunakar Bhatta of the governor post, prompting Bhatta to resign from his position. However, Prime Minister and CPN-UML Chair KP Sharma Oli objected to Bhatta’s nomination, causing friction between the two major coalition partners.

In response, PM Oli invited Deuba to Baluwatar on Monday evening for further discussions. Deuba, however, declined the invitation, reportedly frustrated by Oli’s repeated rejections of his proposed candidates.

Shaken by Deuba’s response, PM Oli instructed Finance Minister Paudel to proceed with the appointment in line with the Nepali Congress party’s preference, prompting the sudden scheduling of today’s committee meeting.

Nepal Rastra Bank has been without a governor since Maha Prasad Adhikari retired from his post on April 5. Since then, the Governor Recommendation Committee itself has faced controversy, with multiple resignations weakening its legitimacy.

Originally formed on March 24, the committee included Finance Minister Paudel, former NRB Governor Bijay Nath Bhattarai, and Nepali Congress leader Biswo Poudel. However, Bhattarai resigned on April 20, and Poudel stepped down from the committee on May 13 to enter the race for governorship himself.

In response, Paudel was replaced by economist Dr. Poshraj Pandey, while the government appointed outgoing Governor Maha Prasad Adhikari to fill Bhattarai’s vacant seat.