COVID-19 hit Nepal hardand at a particularly inopportune time. Nepals public debt increased by 35.5 percent in FY2019/20 amid mounting expenditures to mitigate COVID-19 and falling tax revenues due to slowdown in economic activities. The government had established the national Public Debt Management Office (PDMO) in 2018. Its new staff, re-assigned to PDMO from other government departments, needed training on essential debt management functions. Moreover, the information needed for sound debt-management practices was scattered among different public institutions.
Nepal-DMF Partnership pays off
Nepal adapted swiftlywith support from the Debt Management Facility (DMF). The DMF is a multi-donor trust fund jointly implemented by the World B…
Read the full article at: https://www.worldbank.org/en/news/feature/2021/07/15/nepal-takes-key-step-toward-debt-transparency-amid-the-pandemic
