IMF approves USD 214 million to Nepal to address COVID-19 pandemic

The IMF on Wednesday approved a disbursement to Nepal of about USD 214 million to help the Himalayan nation cover the urgent balance of payments and fiscal needs stemming from the COVID-19 pandemic. The International Monetary Fund (IMF) said COVID-19 is having a severe impact on Nepal's remittances, tourism, and domestic activity. As such, it will substantially weaken the country's GDP growth, balance of payments and fiscal position.

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