Cover IMF Staff Country Reports
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
Author:
International Monetary Fund. Asia and Pacific Dept
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 024
Language:
English
Publication Date:
27 Jan 2022
DOI:
https://doi.org/10.5089/9798400200380.002
ISBN:
9798400200380
ISSN:
1934-7685
Pages:
102
Keywords:
financing gap; procurement contract; ECF arrangement; November data; import surge; consumer price inflation; COVID-19; Debt relief; Global
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2022: Issue 024