Dr. Bishwanath Paudel Appointed 18th Governor of Nepal Rastra Bank, Ending Uncertainty and Political Tensions

Economist Prof. Dr. Bishwanath Paudel has been appointed the 18th Governor of Nepal Rastra Bank. The decision was made during a Cabinet meeting held on Tuesday evening at Baluwatar, approving the recommendation of a committee led by Deputy Prime Minister and Finance Minister Bishnu Paudel. This appointment ends the prolonged uncertainty surrounding the central bank’s leadership.

The Governor Recommendation Committee, chaired by Finance Minister Bishnu Paudel, had earlier on Tuesday recommended three candidates: Dr. Bishwanath Paudel, Acting Governor Nilam Dhungana Timsina, and former Secretary Dinesh Bhattarai. Dr. Paudel, ranked first on the list, was selected by the Cabinet for the position.

Political Crisis Averted

The appointment also resolves reported tensions within the ruling coalition over the governor’s selection. A meeting between Nepali Congress President Sher Bahadur Deuba and Prime Minister KP Sharma Oli, Chairman of CPN (UML), earlier on Tuesday paved the way for this decision.

Stock Market Boost

Following the announcement of Dr. Paudel’s appointment, the Nepal Stock Exchange (NEPSE) saw a surge in activity on Wednesday morning. Analysts attribute this to Dr. Paudel’s strong background in economics and policy expertise, which has boosted investor confidence.