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Regulatory Perspective of Financial Inclusion in Nepal
In the year 2015, Nepal had a per capita income of USD 762, making it one of the poorest countries in the world. The national average poverty line is at 25.2%, attributed to the fact that poverty is higher in rural areas; with more than 81% of the country’s population living there. The geographical dispersion of the societies, lack of infrastructural development in the field of health, education, road and communication, the lack of economic opportunity, dependency of 66% of population on agriculture for livelihood and low awareness about the financial system in rural areas pose additional challenges for enhancing financial inclusion in Nepal. Read more
In Conversation with Judith Karl
Nepal Rastra Bank together with UNCDF recently launched the financial inclusion roadmap for Nepal as part of the Making Access Possible (MAP) initiative. This study was conducted with the objective of escalating financial access in rural areas, to ultimately reduce poverty and increase the standard of living. MAP aims at encouraging the use of financial services among the poorer sections of Nepali society as financial inclusion is proven to create greater opportunities for income generating activities. During the launch, Sujeev Shakya, Chairperson of Nepal Economic Forum sat with Judith Karl, Executive Secretary of UNCDF to discuss some of the biggest road blocks to Nepal’s financial inclusion scenario. Read more
Financial Inclusion Scenario in Nepal
There has been increased emphasis on the improvement of Access to Finance (A2F) in the global scenario with countries adopting measures to improve the level of access for individuals and businesses alike Read more
Macroeconomic Vision for 2030
Although a bit late, the government is finally gearing up to formulate a long-term vision for economic development. The tentative targets for now are to graduate from the Least Developed Country (LDC) status by 2022 and to attain the slew of Sustainable Development Goals by 2030. However, a bold and time-bound economic development vision for the country should go beyond these goalposts that were contextualized on the basis of global targets. Nepal should aim to become a vibrant lower-middle income economy within the next two decades. Read more
Can we Ignite Nepal’s Latent Fortunes?
After decades of political experimentation, Nepal is finally at the cusp of a potential growth take-off. If it can swiftly settle simmering grievances over the new republican constitution issued in 2015, it could use a period of relative stability to project a clear roadmap to prosperity. What shall be its long-term sources of economic growth? How can it better exploit its advantages in clean energy, agriculture and tourism to emerge as a vibrant “zero-carbon” economy by mid-century? How can it ride the boom of its giant neighbors, China and India? Will it leverage, and eventually wean off high remittances? How can it augment its prowess in modern tradable services? Read more
Black Carbon and Climate Change in South Asia
A changing climate greatly affects Nepal and the rest of South Asia. Changing precipitation patterns affect drinking water supplies and agricultural production. We have already seen our vulnerability to this during the past year’s unusual rainfall patterns. Read more