Debt Relief: Top agenda for Nepal Donor Conference

June 3 – Debt relief will be one of the top agenda of the government proposed international donor conference. So says Nepal’s Finance Minister Ram Sharan Mahat talking to one of the top newspapers of the country. Nepal’s debt at present stands at USD 3.8 Billion—which is 30 per cent of the GDP.

The objective of the conference, the finance minister the other day in a meeting with the representatives of foreign missions and international donor agencies had claimed that through the conference, Nepal aims to raise at least USD 2 Billion for reconstruction of damaged properties.

Minister Mahat further revealed that the conference will be held before the impending annual budget—which will be tentatively in the month of July, 2015.

“Our situation is not as worse as Haiti. I even do not expect that our debt will be relieved equal to Haiti”, says Mahat and adds, “We need huge sum for the reconstruction thus debt relief will be on the top agenda of the conference.”

“Even if half of our debt is written off, we will have annually NPR 12 Billion in excess that will could be used in the reconstruction,” says Mahat.

India, China and Britain have expressed their desire to provide venue for conference but, the finance minister says, the government wants to hold the conference right here in the country.

Mahat gaining maturity!