Kathmandu. Minister for Finance Bishnu Prasad Poudel and the officials of the International Monetary Fund (IMF) held a discussion on various aspects of economy during the COVID-19 pandemic.

In the virtual discussion held here Sunday, the discussion was mainly focused on the preparation regarding the Extended Credit Facility (ECF) programme. The ECF provides financial assistance to countries with protracted balance of payments problems.

During the virtual discussion, Minister Poudel extended his happiness over the joint efforts of the government of Nepal and the officials of the IMF for the preparation of the proposed ECF programme.

According to the Ministry of Finance, the Minister also extended his gratitude to the IMF for its assistance to Nepal in March this year.

The IMF had approved the disbursement of 214 million US dollar in emergency financing under the Catastrophe Containment and Relief Trust (CCRT) to help Nepal address the urgent balance of payments needs caused by COVID-19.

During the meeting, the two sides also touched on the issues on how to accelerate the efforts to revive the economy in the wake of COVID-19 pandemic.

Minister Poudel viewed that the proposed ECF would assist in managing the increasing public expenses and reviving the economy, according to the Finance Ministry.

The IMF officials had also pledged continued support to Nepal in its economic and social endeavors and further cooperation for economic revival in Nepal. (RSS)