SAARC monetary policy workshop held in Nepal

A three-day workshop on the management of current capital to formulate the monetary policy of the South Asian Association for Regional Cooperation (SAARC) region kicked off in Nepali capital Kathmandu on Wednesday.

Around 30 high level officials of central banks and financial sector of the SAARC nations participated in the workshop.

Inaugurating the workshop, Governor of Nepal Rastra Bank (NRB),the central bank, Deependra Bahadur Chhetri stressed the need of enforcing timely monetary policy and building cooperation and collaboration at national and regional level in a bid to keep SAARC region away from the effects of global economic meltdown, according to Nepali national news agency RSS.

Numerous challenges and opportunities have surfaced before the SAARC region to move ahead by keeping up the overall economic growth rate in the region amidst the changed global scenario, Governor Chhetri said, pointing out the urgency of cooperation to address the problems at state and regional level.

Deputy Governor of NRB, Bishnu Bahadur Manandhar expressed confidence that the workshop would help activate the fiscal structure of this region in an effective way through the sharing of knowledge and experience gained in the area of monetary policy.