Dr. Bishwo Paudel Appointed as New Governor of Nepal Rastra Bank
Dr. Paudel, a well-known economist and former Vice Chairperson of the National Planning Commission, was recommended after political leaders Prime Minister KP Sharma Oli.
The Government of Nepal has appointed Dr. Bishwo Nath Paudel as the new Governor of Nepal Rastra Bank (NRB).
Dr. Paudel, a well-known economist and former Vice Chairperson of the National Planning Commission, was recommended after political leaders Prime Minister KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba reached an agreement on his name.
A legal case had earlier tried to stop his appointment, but the Supreme Court dismissed that request on Tuesday. This cleared the way for the government to move forward.
The Governor Recommendation Committee, led by Finance Minister Bishnu Paudel, had sent a list of three names to the Cabinet. Dr. Paudel was at the top of that list.
Soon after, the Cabinet held a meeting and officially appointed Dr. Paudel as the new Governor. He takes over from Dr. Neelam Dhungana Timsina, who had been serving as Acting Governor.
Dr. Paudel will now lead Nepal Rastra Bank at a time when the country is facing many economic challenges. Many hope his experience will help improve Nepal’s financial stability and support economic growth.