Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, has said that the second wave of the coronavirus has added more challenges to the economy of Nepal. He mentioned this during the 49th meeting of the Board of Directors of Asian Clearing Union, which was held virtually on Monday.
Governor Adhikari stated that the tourism, construction, transport, manufacturing, and trade sectors which had been hit hard during the first wave of the coronavirus had just begun to revive in the past few months. However, the second wave has added uncertainty to the economy at present.
He also shared that Nepal Rastra Bank will be focusing on introducing policies and programmes that will help revive the country’s economy that has been battered by COVID-19. Adhikari also informed the meeting about the policies that NRB had implemented to help the financial institutions and the overall economy.
On the occasion, Governor Adhikari also said that there should be more emphasis laid now on digital transactions and reduction in the use of banknotes. He added that during this critical phase the various digital mediums of payment that have been introduced in Nepal had been playing a very important role in the economy.
The virtual meeting was organised by the Reserve Bank of India where the governors of the member central banks spoke about the economies of their respective countries and also the steps that they had taken to minimise the impact of the COVID-19 on the economy.
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