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Economists suggest for monitory policy focused on reducing coronavirus effects

Time has come for a policy that helps to increase economic growth and maintain stability.

KATHMANDU: Economists and stakeholders concerned have suggested the monitory policy that focuses on solving the problems caused by a coronavirus in the national economy.

At a time when Nepal Rastra Bank has been working for the monetary policy for the forthcoming fiscal year, the NRB is drawn attention to preparing the policy in a way that props up the federal economy and minimizes the adversity caused by the pandemic. During a program on ‘Monitory Policy in Federal System and Effectiveness of Economic Policy’ organized by the Society of Economic Journalists Nepal (SEJON) here Friday, the experts were of the view that policy diversification was imperative to solve the problems at State and local levels. Economist Dr. Dilliraj Khanal viewed that monitory policy needs to address problems in the marginalized level. He stressed that refinancing could be expanded so that the low-level people will have access to it.

Controlling unproductive expenses and augmenting liquidity could be other priorities in the policy, according to him. Another economist Keshav Acharya reminded that some States have decided to mobilize internal loans, for which, NRB can make proper policy guidance. Researchers at the National Natural Resources and Finance Commission, Bishal Chalise, commented that the monetary policies so far have focused only on administrative management. So, the time has come for such a policy that helps to increase economic growth and maintain stability.

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