FNCCI, IMF reps meet, stress collaboration for economic stability

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal and International Monetary Fund (IMF) Resident Representatives for Nepal Teresa Daban Sanchez held a meeting at FNCCI Secretariat in Teku, Kathmandu, on Friday. In the meeting, President Dhakal expressed his concerns about the existing economic recession in Nepal and requested for support from the IMF to help the country recover. He mentioned that the FNCCI has been advocating for an accommodative monetary policy from the Nepal Rastra Bank, focusing on increasing demand, reducing interest rates, revising working capital guidelines, and restructuring and rescheduling loans to revive the economy. President Dhakal emphasized the importance of the IMF's support to bring Nepal's economy back on track. In response, Resident Representative Teresa assured him that the IMF would discuss the issues further and collaborate with the FNCCI to work towards the economic stability of Nepal. This meeting highlights the collaboration between the FNCCI and the IMF, with both parties recognising the significance of working together to address the economic challenges faced by Nepal. READ ALSO:

• FNCCI urges Chief Secretary Aryal to reduce cost of doing business
• IMF recommends for precautions on monetary policy
• IMF EB concludes 2023 Article IV Consultation with Nepal, completes 1st, 2nd reviews under ECF