Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal Rastra Bank (NRB) Governor Dr. Bishwonath Paudel participated in the 95th Annual General Meeting of the Bank for International Settlements (BIS) held in Basel, Switzerland. The three-day event brought together governors from the central banks of 63 member countries, fostering discussions on global financial cooperation.
During the meeting, Governor Paudel engaged in high-level sideline talks with BIS General Manager Agustín Carstens and the head of the BIS Banking Department.
The discussions focused on diversifying Nepal’s foreign exchange reserve investments, including the potential purchase of gold and exploring new financial instruments available in global markets to enhance returns from reserve management. The NRB highlighted that the talks also explored opportunities for collaboration to expand investment avenues for effective reserve management.
In a separate bilateral meeting, Dr. Paudel met with Reserve Bank of India Governor Sanjay Malhotra to discuss strengthening ties between the two central banks. The agenda included enhancing bilateral cooperation, streamlining payment systems, and fostering continuous coordination for capacity building of human resources.
Additionally, Governor Paudel held talks with the Governor of the People’s Bank of China, focusing on deepening bilateral cooperation, improving banking transactions, and making payment systems more efficient and effective through sustained collaboration.
Accompanying Governor Paudel were Govinda Prasad Nagila, Director of the Bank and Financial Institutions Regulation Department, and Sharan Kumar Adhikari, Director of the Governor’s Office, who provided key support during the discussions.
The sideline talks underscore Nepal’s commitment to strengthening its financial strategies on the global stage, leveraging international partnerships to bolster economic stability.
As Nepal explores innovative approaches to manage its foreign exchange reserves, these engagements at the BIS meeting signal a proactive step toward enhancing financial resilience and fostering cross-border collaboration.
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