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Nepal: Request for an Arrangement Under the Extended Credit Facility -Press Release; Staff Report; Debt Sustainability Analysis; Staff Supplement; Statement by the Executive Director for Nepal

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  • International Monetary Fund

Abstract

The COVID-19 pandemic severely impacted Nepal’s economy. Tourist arrivals collapsed, domestic activity plummeted, and remittances have been volatile. As a result, balance of payments and fiscal financing gaps emerged. After growth was lower than expected in 2019/20, a gradual resumption in economic activity and a corresponding surge in imports and related tax receipts led to higher growth and improved fiscal outturns in 2020/21. However, important fiscal and external financing needs remain to support the COVID-19 response, facilitate a continued recovery, and maintain a comfortable level of reserves.

Suggested Citation

  • International Monetary Fund, 2022. "Nepal: Request for an Arrangement Under the Extended Credit Facility -Press Release; Staff Report; Debt Sustainability Analysis; Staff Supplement; Statement by the Executive Director for Nepal," IMF Staff Country Reports 2022/024, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2022/024
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    Keywords

    financing gap; procurement contract; ECF arrangement; November data; import surge; consumer price inflation; COVID-19; Debt relief; Global;
    All these keywords.

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