NEW YORK (Reuters) – The International Monetary Fund and Nepal have reached a staff-level agreement that could unlock about $400 million for the Asian nation, the Fund said in a statement on Monday.
The program’s priorities are to mitigate the impact of the coronavirus pandemic, preserve macro economic and financial stability and support a reform agenda, the Fund said.
“The fiscal deficit trajectory under the program will help stabilize public debt, while also accommodating the authorities’ commitment to further enhance social safety nets to support poverty alleviation.”
The agreement is subject to approval from the IMF management and must be endorsed by the Executive Board. Endorsement is expected “in the coming weeks,” the Fund said.
(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama)
