A leading business journalist Prem Khanal agues that the Nepal Rastra Bank and its leadership was successful to meet the target it set while assuming the post in 2010. However, he leaves the space open for people to make their own decision whether to celebrate it or not. The discussion over Nepal’s open border with a fast growing Indian economy and the pegged exchange rate with it are always hit by pressure, mostly from policy level officials. Dr Yuba Raj Khatiwada, governor of the central bank, in his meeting with business journalists from different media houses in Kathmandu, had explicitly said that it was quite necessary to change the ‘exchange system’ with India. Ironically, he, without any hesitation of public shame, later, denied to admit that he said that.
With all the due respect to his expertise and position, I doubt his guts to speak the truth with public. I have reached in this conclusion after listening to him in mid-term budget review of fiscal year 2011/12 few months back. Denouncing the fact that the growth of agricultural sector purely because of timely monsoon, he said that it was all government’s effort to maintain the growth.
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