KATHMANDU, June 2: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel held a courtesy meeting with Sarwat Jahan, the head of the International Monetary Fund (IMF) mission.
During the meeting at the Ministry of Finance today, they discussed the sixth review of the Extended Credit Facility (ECF), structural reforms, and related topics, according to Minister Paudel’s secretariat.
IMF agrees to release $42.7 million in sixth installment of ECF...
Nepal took an ECF loan amounting to USD 395.9 million in 2022 after a decline in foreign currency reserves severely weakened the balance of payments. This loan equals 180 percent of Nepal’s quota of Special Drawing Rights (SDR). The IMF provided this facility to be repaid in installments over four years to support budget financing.
The IMF mission team has come to Nepal for the sixth review of this loan facility.
