This web page presents information about the work of the IMF in Nepal, including the activities of the IMF Resident Representative Office. Additional information can be found on the Nepal and IMF country page, including IMF reports and Executive Board documents that deal with Nepal.
At a Glance: Nepal's Relations with the IMF
- Current IMF membership: 190 countries
- Nepal joined the Fund in September 1961; Quota: SDR 156.90 million
- Staff Report for the 2018 Article IV Consultation, February 17, 2019
- Charts on Macroeconomic Indicators, July 31, 2020
- IMF Staff Completes 2020 Article IV Mission to Nepal, January 17, 2020
- 2019 Article IV Consultation Staff Report, April 6, 2020
- Selected Issues, April 6, 2020
- New: Request for Disbursement Under the Rapid Credit Facility, May 11, 2020
News and Highlights
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South Asia: Navigating Slowdown Amid Uncertainty
South Asia Regional Update, October 2019
November 20, 2019
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The narrative of the loanable fund crisis or credit crunch is not validated by data
Geert Almekinders interview with the Annapurna Express
April 22, 2019
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Interview with Anne-Marie Gulde, Deputy Director of Asia Pacific Department of the IMF
The Annapurna Express
April 15, 2019
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Finance and Development Magazine, March 2019 Issue (www.imf.org/fandd)
March 1, 2019
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January 30, 2019
Nepal and the IMF
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IMF Staff Concludes Visit to Nepal
July 27, 2023
IMF Staff Concludes Visit to Nepal
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May 4, 2023
Series:Country Report No. 2023/158
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May 4, 2023
Series:Country Report No. 2023/159
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May 1, 2023
Completion of the first and second reviews under the Extended Credit Facility (ECF) provides Nepal with access to SDR 39.20 million (about US$52.8 million). Following a strong post pandemic recovery, external shocks and necessary policy adjustment led to a softening of GDP growth. The much needed monetary policy tightening helped stabilize the external position and lower inflation, while the recent mid year budget review is expected to address near term fiscal risks.
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February 28, 2023
IMF staff and the Nepal authorities have reached staff-level agreement on the policies needed to complete the combined first and second reviews of the ECF arrangement. Nepal would have access to about US$52 million in financing once the review is formally approved by the Executive Board. Following a strong post-pandemic recovery, real GDP growth is softening, reflecting the impact of external shocks and necessary policy adjustment. The much-needed monetary policy tightening last year helped stabilize the external position and is contributing to lower inflation, while the recent mid-year budget review is expected to address near-term fiscal risks stemming from lower-than-expected revenue growth. Sustainable medium-term growth will require fiscal reforms in line with debt sustainability, advancing reforms on banking regulations and supervision, reducing the cost of doing business and barriers to FDI and enhancing governance.
May 1, 2023
Despite weakening external demand and monetary tightening, domestic demand has so far remained strong, with China’s reopening providing fresh impetus. IMF Asia and the Pacific remains a dynamic region despite the somber backdrop of what looks to be shaping up as a challenging year for the world economy. Global growth is poised to decelerate as rising interest rates and Russia’s war in Ukraine weigh on activity. Inflation remains stubbornly high, and banking strains in the United States and Europe have injected greater uncertainty into an already complex economic landscape. Asia’s domestic demand has so far remained strong despite monetary tightening, while external appetite for technology products and other exports is weakening. We project the region will contribute around 70 percent of global growth this year as its expansion accelerates to 4.6 percent from 3.8 percent in last year. China’s reopening will provide fresh momentum. Normally the strongest effect would be from demand for investment goods in China, but this time the biggest effect is from demand for consumption. Other emerging economies in the region are on track to enjoy solid growth, though in some cases at slightly lower rates than seen last year.Read the Report