Wednesday, December 5, 2012
The International Monetary Fund (IMF) has projected that Nepal’s economic growth will decline to 3.8 percent in the current fiscal year 2012-13, citing poor monsoon for agriculture and slower services activity and remittance growth. The economic growth was recorded at 4.6 percent in the last fiscal year 2011/12. “Spillover effects from declining growth in India (through lower export demand, weaker inward investment, and possibly less remittances), and the dampening effect of continued political uncertainty will also present further challenges to growth in Nepal,” according to IMF report released on Monday. The IMF also said that the inflation is also on the rise and upward pressure on prices may increase in line with projected developments in India over the next few months. The IMF also stressed on the lack of political consensus that has adversely affected the macroeconomic management. Higher growth and progress in poverty reduction could be enabled by political consensus, policy stability, an easier labor environment, and more effective use of ext
The International Monetary Fund (IMF) has projected that Nepal’s
economic growth will decline to 3.8 percent in the current fiscal year
2012-13, citing poor monsoon for agriculture and slower services
activity and remittance growth.
The economic growth was recorded at 4.6 percent in the last fiscal year 2011/12.
“Spillover effects from declining growth in India (through lower export demand, weaker inward investment, and possibly less remittances), and the dampening effect of continued political uncertainty will also present further challenges to growth in Nepal,” according to IMF report released on Monday.
The IMF also said that the inflation is also on the rise and upward pressure on prices may increase in line with projected developments in India over the next few months.
The IMF also stressed on the lack of political consensus that has adversely affected the macroeconomic management. Higher growth and progress in poverty reduction could be enabled by political consensus, policy stability, an easier labor environment, and more effective use of external support, said the Fund.
The economic growth was recorded at 4.6 percent in the last fiscal year 2011/12.
“Spillover effects from declining growth in India (through lower export demand, weaker inward investment, and possibly less remittances), and the dampening effect of continued political uncertainty will also present further challenges to growth in Nepal,” according to IMF report released on Monday.
The IMF also said that the inflation is also on the rise and upward pressure on prices may increase in line with projected developments in India over the next few months.
The IMF also stressed on the lack of political consensus that has adversely affected the macroeconomic management. Higher growth and progress in poverty reduction could be enabled by political consensus, policy stability, an easier labor environment, and more effective use of external support, said the Fund.
UCPN (M) says it is willing to hand over leadership of unity govt to Nepali Congress
The ruling UCPN (Maoist) party on Wednesday decided that the
leadership of the new unity government will be handed over to Nepali
Congress only after a package deal is reached on holding the Constituent
Assembly elections and ending political and constitutional deadlocks.
The office bearers meeting of UCPN (Maoist) party held at party chairman Pushpa Kamal Dahal’s residence in Lazimpat this morning decided to adopt ‘maximum flexibility’ to forge consensus among the parties to end the political and constitutional deadlock.
Emerging from the meeting, party vice chairman Narayan Kazi Shrestha told media persons that the party is ready to call back its Prime Minister Baburam Bhattarai, who is also the party's vice chairman, if the parties strike a package deal on contentious issues and decide to handover the government leadership to Nepali Congress.
Shrestha said that during the meeting the party decided to fix the date for the next Constituent Assembly election within April next year, resolve the legal and constitutional problems that can become a hurdle to carry out elections and pave the way for a formation of unity government as soon as possible.
He also said that if the political parties agree on the NC’s prime ministerial candidate, then a new unity government will be formed under the leadership of NC.
On Tuesday, leaders from UCPN (Maoist), Nepali Congress and UML, who met at the secretariat of the Special Committee for Supervision, Integration and Rehabilitation of former Maoist combatants, said talks were inching towards a deal to accept a candidate from NC to lead the government of national consensus.
Meanwhile, it is learnt that NC is all set to unanimously name its party president Sushil Koirala as the prime ministerial candidate to lead a unity government
The office bearers meeting of UCPN (Maoist) party held at party chairman Pushpa Kamal Dahal’s residence in Lazimpat this morning decided to adopt ‘maximum flexibility’ to forge consensus among the parties to end the political and constitutional deadlock.
Emerging from the meeting, party vice chairman Narayan Kazi Shrestha told media persons that the party is ready to call back its Prime Minister Baburam Bhattarai, who is also the party's vice chairman, if the parties strike a package deal on contentious issues and decide to handover the government leadership to Nepali Congress.
Shrestha said that during the meeting the party decided to fix the date for the next Constituent Assembly election within April next year, resolve the legal and constitutional problems that can become a hurdle to carry out elections and pave the way for a formation of unity government as soon as possible.
He also said that if the political parties agree on the NC’s prime ministerial candidate, then a new unity government will be formed under the leadership of NC.
On Tuesday, leaders from UCPN (Maoist), Nepali Congress and UML, who met at the secretariat of the Special Committee for Supervision, Integration and Rehabilitation of former Maoist combatants, said talks were inching towards a deal to accept a candidate from NC to lead the government of national consensus.
Meanwhile, it is learnt that NC is all set to unanimously name its party president Sushil Koirala as the prime ministerial candidate to lead a unity government
People around the world are celebrating International Volunteer Day
with rallies, parades, volunteer fairs, group clean ups, blood
donations, conferences, exhibitions, fundraising, workshops and
volunteer recognition events, the UN said in a statement.
International Volunteer Day (IVD), on December 5th, was designated by the United Nations in 1985 as an international day to celebrate the power and potential of volunteerism.
"The act of volunteering is found in all cultures, languages, and religions. Every year, hundreds of millions of people volunteer their time and skills to help make the world a better place. When they volunteer, they help to improve the lives of others," said the statement.
In Nepal, to celebrate the IVD 2012, the UN is organising an event to promote volunteerism, thank former and current UN Volunteers in Nepal for their contribution and enthusiasm to bring their support for the community.
International Volunteer Day (IVD), on December 5th, was designated by the United Nations in 1985 as an international day to celebrate the power and potential of volunteerism.
"The act of volunteering is found in all cultures, languages, and religions. Every year, hundreds of millions of people volunteer their time and skills to help make the world a better place. When they volunteer, they help to improve the lives of others," said the statement.
In Nepal, to celebrate the IVD 2012, the UN is organising an event to promote volunteerism, thank former and current UN Volunteers in Nepal for their contribution and enthusiasm to bring their support for the community.
Nepal lose to South Africa in Blind T-20 Cricket World Cup
Nepal faced second straight defeat after they lost to South Africa
via the Duckworth-Lewis method in the ongoing Blind Twenty20 Cricket
World Cup held in Bangalore on Thursday.
Chasing South Africa’s formidable total of 298 runs, Nepal managed to score 118 runs in 13 overs before the match was called off due to rain interruption.
Under the D/L method, Nepal was found to be behind the par score.
Now, Nepal will take on West Indies on Thursday
Chasing South Africa’s formidable total of 298 runs, Nepal managed to score 118 runs in 13 overs before the match was called off due to rain interruption.
Under the D/L method, Nepal was found to be behind the par score.
Now, Nepal will take on West Indies on Thursday
NC names Sushil Koirala its PM candidate
The Nepali Congress has nominated party president Sushil Koirala as its prime ministerial candidate.
A meeting of the party's central working committee (CWC) central office in Sanepa in the afternoon nominated Koirala as the PM candidate, party leaders told mediapersons after the meeting.
Earlier today, NC office-bearers had decided to make the formal announcement following calls from the CPN-UML and the UCPN (Maoist) at the three-party meeting last evening to do so.
While the UML has already expressed support to the NC to lead the consensus government the UCPN (Maoist) has vaguely hinted at agreeing to give the government leadership to NC provided there is an understanding on issues related to the new constitution. Similarly fringe parties have also decided to back Koirala's candidacy, said Chairman of Rastriya Prajatantra Party (RPP) Pashupati Shumsher Rana
A meeting of the party's central working committee (CWC) central office in Sanepa in the afternoon nominated Koirala as the PM candidate, party leaders told mediapersons after the meeting.
Earlier today, NC office-bearers had decided to make the formal announcement following calls from the CPN-UML and the UCPN (Maoist) at the three-party meeting last evening to do so.
While the UML has already expressed support to the NC to lead the consensus government the UCPN (Maoist) has vaguely hinted at agreeing to give the government leadership to NC provided there is an understanding on issues related to the new constitution. Similarly fringe parties have also decided to back Koirala's candidacy, said Chairman of Rastriya Prajatantra Party (RPP) Pashupati Shumsher Rana
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