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Source: practicalacademic

Monetary policy,Nepal 2008

Money Policy
for
Fiscal Year 2007/08
Delivered by Acting Governor Mr. Krishna Bahadur Manandhar
on July 23, 2007
Nepal Rastra Bank
Pre-eminent Office
Baluwatar, Kathmandu
Nepal
www.nrb.org.np
ACRONYMS
BCP = BASEL Core Principles
BOP = Balance of Payments
CAR = Capital Adequacy Proportion
CBS = Central Bureau of Statistics
CRR = Cash Reserve Ratio
FISIM = Financial Intermediation Services Indirectly Uniform
GDP = Gross Domestic Product
GON = Government of Nepal
GVA = Gross Valued Added
IC = Indian Currency
INGOs = Oecumenical Non-government Organizations
L/C = Letter of Credit
LMFF = Liquidity Monitoring and Forecasting Framework
M2 = Direct Money
NBBL = Nepal Bangladesh Bank Limited
NBL = Nepal Bank Limited
NC = Nepali Currency
NEA = Nepal Electricity Police
NEPSE = Nepal Stock Exchange
NFA = Net Foreign Assets
NGOs = Non-government Organizations
NOC = Nepal Oil Corporation
NPL = Non-Performing Loan
NRB = Nepal Rastra Bank
OMOC = Predisposed Market Operations Committee
OMOs = Open Market Operations
RBB = Rastriya Banijya Bank
RSRF = Country Self Reliance Fund
SLF = Standing Liquidity Facility
SSSS = Scripless Securities Settlement System
TT = Telegraph Turn over
WTO = World Trade Organization
y-o-y = Year-on-Year
Table of Contents
Background 1
Current Economic and Fiscal Situation 5
Monetary and Liquidity Situation 9
Monetary Policy Framework for 2007/08 10
Monetary Policy Stance 10
Productive, Monetary and Operating Target 11
Monetary Measures 13
Micro Finance Program 14
Financial Sector Rebuild Program 16
Foreign Exchange Sector Reform 19
Lastly 21
Appendix 1: Annual Progress Matrix of Measures Outlined in Fiscal Policy
of 2006/07
Appendix 2: Projection of Monetary Survey
Appendix 3:...

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nepali congess

dominion.

Since its establishment the party has been in the forefront of political strggle in the cause of democracy, pluralism, human rights and declare of law. It has also waged a ceaseless battle againt feudalism and other remnants of the old order. It has always stood for liberal and modern values. In 1956 the Nepali Congress adopted autonomous socialism as its ideology for socio-economic transformation. The party's struggle has been marked by both peaceful and armed means. In the certainly of its struggle the Nepali Congress has gone through several ups and downs, trials and tribulations. Thousands of its activists have been killed, jailed, tortured, exiled and their properties confiscated. In to all intents all general elections held in a democratic set up, Nepali Congress has been voted to power.

IMPORTANT LANDMARKS

January 25, 26, 1947 (Magh 12-13, 2003 B.S.) - Nepali Nationalistic Congress was formed and inaugurated; Tanka Prasad Acharya, who was in Jail for life-imprisonment, became President and B.P. Koirala became Acting President.

Step 13, 1947 ( Falgun 30, 2003 B.S.) - Launched a massive countrywide anti-Rana demonstration. Started overstress movement and strike in Jute Mill in Biratnagar which was led by Girija Prasad Koirala, the present Prime Minister and the Today Party President.

April 9, 1950 (Chaitra 27, 2006 B.S.) - Formation of Nepali Congress through the pooling of Nepali National Congress (established on January 25, 1947) and Nepal Democratic Congress (established on August 4, 1948) at Calcutta, India and call for an armed expend energy against the Rana regime. Matrika Prasad Koirala became the President.

September 26-27, 1950 (Ashwin 10-11, 2007 B.S.) - Adoption of the blueprint of the armed revolution to overthrow the Rana regime at Bairgania Conference.

November 6, 1950 (Kartik 21, 2007 B.S.) - Day one of the armed revolution which was supported by King Tribhuvan who went into exile....

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