Economist Biswo Nath Poudel is set to become the new governor of Nepal Rastra Bank (NRB).
Nepali Congress President Sher Bahadur Deuba had proposed Poudel’s name to Prime Minister KP Sharma Oli for the position.
During discussions held in Baluwatar on May 12 and on Tuesday, Deuba proposed Poudel for governor, to which PM Oli agreed.
“The Congress proposed Biswo Poudel’s name, and an agreement has been reached on the name proposed by the Congress,” a Baluwatar source said. “The recommendation committee will probably finalize the name today, and the Cabinet will make the appointment.”
Earlier on Tuesday, PM Oli, Deuba, Finance Minister and coordinator of the governor recommendation committee Bishnu Paudel, and Home Minister Ramesh Lekhak held discussions at Baluwatar regarding the governor’s appointment and other matters.
Following the discussions, Finance Minister Paudel has called a meeting of the governor recommendation committee for Tuesday afternoon, and the Cabinet is also scheduled to meet in the evening.
Biswo Poudel, who holds a PhD in economics from the United States, was recently a professor at Kathmandu University School of Management. He has been inactive in Nepali Congress politics since joining the university as professor.
The position of NRB governor has been vacant since April 6. Finance Minister Paudel has assigned Deputy Governor Neelam Dhungana with the responsibility of acting governor.
As per the Nepal Rastra Bank Act, the governor’s successor should be recommended at least one month before their term ends. However, the delay this time has drawn criticism.
Economist Poudel, who was a member of the governor recommendation committee, resigned from the post earlier.
Previously, Deuba had proposed NRB Executive Director Gunakar Bhatta for the governor’s post. However, after some UML leaders cited the precedent of 2004 when the then-PM Deuba had not appointed NRB Executive Director Yubaraj Khatiwada, PM Oli asked for another name. Deuba then proposed Biswo Poudel for the governor’s role.
Poudel contested the 2022 elections as a Nepali Congress candidate from the Chitwan-1 constituency but was defeated.
Poudel previously served as economic advisor at the Ministry of Finance, vice-chairman of the National Planning Commission, and economic advisor at the International Labor Organization (ILO).
