Question
Which of following neighbor country’s government
has suspended the country’s Central Bank Governor over disagreements with Finance Minister and for not doing enough to pull the economy from doldrums?Solution
• Nepal government has suspended the country’s Central Bank (Nepal Rastra Bank) Governor Maha Prasad Adhikari over disagreements with Finance Minister Janardhan Sharma and for not doing enough to pull the economy from doldrums. • Maha Prasad Adhikari was appointed as Nepal’s 17th governor on April 6, 2020 under the previous regime headed by former Prime Minister KP Sharma Oli. • Nepal Rastra Bank announced a ban on the import of vehicles and other luxury items, citing liquidity crunch and declining Forex reserves. • By February 2022, the country’s gross forex reserves had decreased 17% to USD 9.75 billion from USD 11.75 billion in mid-July 2021.
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