Biswo Poudel to Be Appointed Governor

Prime Minister KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba have agreed to appoint economist Biswo Poudel as Governor.

This decision to appoint Poudel as the chief of Nepal Rastra Bank (NRB), the central bank of the country, ends a standoff vis-a-vis the appointment of the governor after the tenure of Maha Prasad Adhikari ended on April 5. For more than a month, the central bank has been without its chief, raising concerns about possible delays in important financial decisions during the times of economic uncertainties.

Originally, the Nepali Congress had recommended the former vice-chair of the National Planning Commission, known for his background in public finance and economic policy, for the job. However, his appointment got delayed due to certain disagreements within the two major parties in the ruling coalition — the Oli-led CPN-UML and the NC. After several rounds of talks and political pressure to fill the key position, both leaders agreed on his name.

An official announcement is expected soon after the Cabinet gives its final approval.