Nepal Decides to Increase Its Shareholding in IMF by 50 Percent

Nepal has decided to increase its shareholding in the International Monetary Fund (IMF) by 50 percent. Currently, Nepal’s fund quota stands at 159.9 million SDR, which will be raised to 235.35 million SDR. The Cabinet meeting held on Monday agreed to increase the share by 78.45 million SDR. As a result, Nepal will contribute 107.3 million USD (approximately 15 billion NPR) to the IMF. Of this amount, 25 percent will be paid from the current fiscal year's budget, and the remaining 75 percent will be paid through promissory notes issued by Nepal Rastra Bank. This increase will enhance Nepal's voting power and loan limits at the IMF.