#news #Nepal #economy
As Nepal prepares for the upcoming budget, the position of Governor at the Nepal Rastra Bank is vacant. Currently, Deputy Governor Nilam Dhungana is acting as the head. Since March 24, the central bank has been without leadership, raising concerns as the country’s monetary policy, financial regulation, and governance have been left unattended for more than a month.
The absence of leadership at the central bank has sparked discussions among the two major political parties, the Nepali Congress and the Nepal Communist Party (NCP). Speculations about which faction or individual will have a say in appointing the Governor have led to various conflicting reports.
According to Ramesh Khatri, a representative of Kansai Nepal News, the delay in appointing a new Governor amidst the ongoing political power struggle is a matter of concern. The appointment of a Governor typically follows a public announcement a month before the position becomes vacant. However, the current political gamesmanship has delayed the Governor’s appointment.
Several names have been circulating in discussions for the Governor’s role, creating controversy. Previously, there were discussions about extending Mahaprasad Adhikari’s tenure as Governor, but several other potential candidates have emerged, leading to disagreements and uncertainties.
The recent amendment to the criteria for appointing officials in economic organizations has removed the age limit of 58 years. This change has brought individuals like former Chief Secretary Rajendra Kishor Kshetry and former Executive Director of the central bank, Ravindra Nath Pandey, into consideration for the Governor’s position.
In the midst of these developments, Deputy Governor Nilam Dhungana has also become embroiled in controversy. Allegations have surfaced suggesting that she prevented the appointment of a new Governor by not accepting the resignation of Executive Director Dr. Gunakar Bhatta, who was expected to step down to make way for the new Governor.
Recently, the name of Dr. Vishwanath Paudel has emerged in discussions for the Governor’s position. Paudel, a former Vice-Chairman of the National Planning Commission, was recommended by the Governor Selection Committee but later withdrew his candidacy.
In light of the economic challenges facing the country, the search for a qualified individual to serve as Governor should prioritize national interest over party affiliations and personal agendas. Ramesh Khatri emphasizes the need for a capable and competent individual to lead the central bank for economic stability and growth.
In conclusion, the delayed appointment of a Governor due to political wrangling has raised concerns about the country’s economic future. It is imperative that the government prioritizes the appointment of a Governor who can address the real economic challenges facing the nation.
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Author: MAYA | HARUTO
Posted at: May 12, 2025 7:00 pm
