Nepal: Recent Economic Developments
August 13, 1997
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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.
Subject: Banking, Commercial banks, Economic sectors, Exports, Financial institutions, Imports, International trade, Public sector, Tariffs, Taxes
Keywords: balance of payments, banking system, broad money, Commercial banks, CR, current account, debt service, East Asia, exchange rate, Exports, financial system, fiscal year, Imports, ISCR, narrow money, private sector, Public sector, sales tax, service sector, South Asia, Southeast Asia, Tariffs
Pages:
73
Volume:
1997
DOI:
Issue:
062
Series:
Country Report No. 1997/062
Stock No:
1NPLEA0011997
ISBN:
9781451829860
ISSN:
1934-7685
