Nepal is preparing to undergo its second Sovereign Credit Rating (SCR).
A meeting held on Monday at the Ministry of Finance discussed preparations for the upcoming rating and agreed to highlight the achievements made by Nepal till date.
During the meeting, Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel gave instructions to officials to make preparations in a way that highlights the significant progress Nepal has made over the past year.
The preparations will prioritise improvements in the economy, policing and legal reforms, good governance, political stability, as well as achievements in infrastructure, particularly in roads, tourism, and hydropower, according to th Finance Ministry sources.
Vice Chair of the National Planning Commission Prof Dr Shiva Raj Adhikari, member Dr Prakash Kumar Shrestha, Nepal Rastra Bank Governor Dr Bishwo Nath Poudel, Finance Secretary Ghanashyam Upadhyaya, and Revenue Secretary Dinesh Kumar Ghimire were among those who attended the meeting.
Mahesh Bhattarai, Chief of the Economic Policy Analysis Division at the Ministry of Finance, made a presentation shedding light in the progress made so far in preparation for the SCR.
The global credit rating agency Fitch is responsible for conducting Nepal’s Sovereign Credit Rating. A team from the agency will soon arrive in Nepal for the purpose.
Nepal received ‘BB-’ rating during last year’s assessment.
