Nepal: Recent Economic Developments

International Monetary Fund

No 1997/062, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Nepal during 1990–97. With a new government coming to office in December 1994, progress on structural reforms stalled in 1994/95 and financial policies weakened. GDP growth slowed to 2.9 percent, reflecting adverse conditions in agriculture. The external situation deteriorated further in the first quarter of 1995/96 in part because interest rates in Nepal did not rise in line with rates in India, where monetary policy had tightened. Following a further change in government in September 1995, steps were taken to address the emerging macroeconomic imbalances.

Keywords: ISCR; CR; private sector; broad money; sales tax; balance of payments; current account; financial system; banking system; debt service; fiscal year; service sector; narrow money; exchange rate; Imports; Exports; Public sector; Tariffs; Commercial banks; Southeast Asia; East Asia; South Asia (search for similar items in EconPapers)
Pages: 73
Date: 1997-08-13
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