KATHMANDU, Sept 15, 2012
International Monetary Fund (IMF) has cautioned the government to remain aware of possible risks that the country might face due to vulnerabilities seen in India.
Todd T Schneider, chief of Article IV mission of IMF, issued such warning note when he meet with Finance Secretary Krishna Hari Baskota on Friday.
During the meeting, Schneider and Baskota shared current status of the economy and changes happening across the globe, particularly neighboring countries, MoF said issuing a statement.
The growth rate of India has declined to a nine-year low of 5.3 percent due to slowdown of the manufacturing sector in the April-June quarter of 2012.
“Even though the government has not been able to announce full-fledged budget, macro-economic indicators of the country are quite positive and the government has laid focus on creating favorable investment environment and channeling invest in the productive sector,” Baskota stated.
Additionally, Baskota informed the mission team that the government is continuously working towards reducing the custom duty rates in order to facilitate international trade.
Source: Republica
International Monetary Fund (IMF) has cautioned the government to remain aware of possible risks that the country might face due to vulnerabilities seen in India.
Todd T Schneider, chief of Article IV mission of IMF, issued such warning note when he meet with Finance Secretary Krishna Hari Baskota on Friday.
During the meeting, Schneider and Baskota shared current status of the economy and changes happening across the globe, particularly neighboring countries, MoF said issuing a statement.
The growth rate of India has declined to a nine-year low of 5.3 percent due to slowdown of the manufacturing sector in the April-June quarter of 2012.
“Even though the government has not been able to announce full-fledged budget, macro-economic indicators of the country are quite positive and the government has laid focus on creating favorable investment environment and channeling invest in the productive sector,” Baskota stated.
Additionally, Baskota informed the mission team that the government is continuously working towards reducing the custom duty rates in order to facilitate international trade.
Source: Republica
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