Nepal: Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility
Volume/Issue:
Volume 2003
Issue 360
Publication date: November 2003
ISBN: 9781451829983
$20.00
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Topics covered in this book
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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , arrivals data , poverty , staff appraisal , inflation rate in mid-September , inflation rate , revenue growth , Nepal's Poverty Reduction Strategy Paper , executive board discussion , Public sector , Budget planning and preparation , Global
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Summary
Nepal’s public debt-to-GDP ratio is set to decline from 68 percent of GDP at end-2002–03 over the medium term. The 2003–04 budget makes a start in implementing the medium-term fiscal strategy. Government spending will be redirected to social sectors, for poverty alleviation, and be better prioritized. Monetary policy would remain geared to supporting the exchange rate peg to the Indian rupee. Further steps are envisaged to strengthen the Nepal Rastra Bank (NRB), improve the banking environment, and restructure commercial and development banks.
