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The continuous improvement in the remittance inflow, tourism earnings, and forex reserves has put the country’s external sector in a comfortable position. The latest macroeconomic report released by the Nepal Rastra Bank (NRB) shows Nepal has received remittances above Rs 100bn for seven straight months.

The comfortable position of the external sector has given space for the central bank to bring a moderate monetary policy for FY 2023/24. While the central bank’s top officials have not spoken about the direction of the new monetary policy, the latest data, according to the private sector, allows the NRB to be more flexible. The central bank in the current fiscal year adopted a tighter monetary policy amid declining forex reserves and a deteriorating external sector.

NRB officials say that the policy efforts of the government and the central bank implemented a year ago, aimed at controlling imports and credit expansion, have worked as expected. According to them, the challenge now is to maintain the pace of improvement.

The NRB Executive Director Prakash Kumar Shrestha also said that the latest macroeconomic report has indicated that a flexible monetary policy could be introduced. “However, which direction the new monetary policy will take will be determined by the market and statistics,” he said. “It is not just the external sector that has become improved. Liquidity has increased while interest rates are decreasing. But we should also pay attention to how the money will be used. While the indicators are positive currently, we need to tread with caution.”

Nepal has received remittances worth Rs 107.3bn in Jestha (mid-May to mid-June). The country has been receiving monthly remittances above Rs 100bn since Mangshir (mid-November to mid-December).

With the surge in remittance inflow, the country’s forex reserves, and balance of payment both have improved, said NRB. According to the NRB report, Nepal’s balance of payment (BOP) is at a surplus of Rs 228.98bn in the first 11  months of FY 2022/23 compared to a deficit of Rs 269.81bn in the same period of FY 2021/22. In US Dollar terms, BOP remained at a surplus of 1.74bn in the review period compared to a deficit of 2.26bn in the same period of the last fiscal year.

The country’s forex reserves increased by 21.8 percent in the first 11 months of the current fiscal year. The report said Nepal’s forex reserves stood at Rs 1480.87bn in mid-June, 2023 from Rs 1215.80bn in mid-July 2022. In US dollar terms, the gross foreign exchange reserves increased by 18.5 percent to Rs 11.3bn in mid-June 2023 from Rs 9.54bn in mid-July 2022.

In the report, NRB has stated that the current level of foreign exchange reserves is sufficient to cover merchandise imports for 11.2 months, and merchandise and services imports for 9.6 months.

Meanwhile, continuously growing tourist arrivals helped the growth of the country’s tourism income by 94.3 percent. Nepal has earned Rs 58.60bn as tourism income in this fiscal year compared to Rs 29.87bn in the last fiscal year. The country’s tourism earnings nosedived in FY 2019/20, and FY 2020/21 due to restrictions on international travel as countries imposed various lockdowns to contain the spread of the Covid-19 pandemic.

Centenarian Satya Mohan Joshi has left valuable legacies that deserve recognition from the Nepali people. His life and contributions to Nepali society are well depicted in the recently published book ‘Shabda Bimbama Satyamohan’ was compiled and edited by senior journalist Gopi Krishna Dhungana. The book is divided into seven parts, each related to Joshi’s significant contributions and the legacies he left behind for the motherland. The first part, titled ‘Articles’, consists of 32 valedictory articles. Satya Mohan's own article recounts his visit to the remote Karnali zone, specifically the district headquarters of Jumla, where he faced challenges and triumphs. Born in 1920 in Lalitpur, Kathmandu Valley, Satya Mohan fearlessly ventured into the most remote areas of Nepal after completing his education. His own article takes the lead in this section. Other articles by scholars recognize him as a recipient of the Madan Prize and as a truth-seeking individual. He is portrayed as a multi-faceted personality, a distinguished scholar in various vernacular genres, and a legendary traveler with a postal stamp issued in his honor. The second part, titled ‘Editorial’, includes seven tributes from different daily newspapers. The first tribute from ‘Gorkhapatra’ laments the irreparable loss of Joshi to the nation, particularly in the fields of literature, language, and culture. The second tribute from ‘Kantipur’ praises Joshi for his tireless pursuit of knowledge in various subjects, including literature, culture, archaeology, and more, spanning eight decades. ‘Annapurna Post’ acknowledges Joshi as an innovator in literature, art, culture, history, archaeology, and expresses that his passing has created a void in research on these subjects. Similarly, ‘Nagarik’ recognizes Joshi as a curious mind, a three-time recipient of the Madan Puruskar, and says he was inquisitive in his book Jureli Darshan (the philosophy of the bulbul) and in Nagarjun’s principles in Buddhism throughout his life. ‘Rajadhani’ honors Joshi for his contributions to art and culture, and says it should be acknowledged continuously as his legacy. ‘Nepal Samacharpatra’ illustrates Joshi’s erudition and exclusive dedication to his motherland, transcending castes, cultures, and creeds, while accurately exploring Hinduism, Buddhism, Newa cultures, and other discoveries. Finally, news portal ‘eKagaj.com’ acknowledges Joshi’s exploration of remote areas of the country and his visits to China, where he taught Nepali language and culture, researched the history of currencies, and paid tribute to Araniko's talents. The third part consists of three interviews collected from different news sources. The first interview, from the ‘Shikshyak’ monthly, highlights Joshi’s response regarding the limited subjects for boys in school education during the Rana regime, while girls’ education was forbidden. Even during those days, Joshi studied and published a book on treasured sculptures, emphasizing the importance of cultural studies in Nepal. He asserted that education and culture are two sides of a coin for a nation’s development. The second interview delves into Joshi’s childhood experiences, including his inability to speak until the age of nine, his visit to Surya Binayak temple where he was left unattended so that he could scream out of fear, and the subsequent development of his speech. It also mentions his enrollment in a school in Lalitpur, which he left due to corporal punishment, and his eventual enrollment in Darbar School in Kathmandu, where he was influenced by Sanskrit literature and began his writing journey. In the third interview, Joshi talks about his experiences with earthquakes, his services, his visits to Karnali, and his contributions to the development of cultures, languages, and arts in Nepal. These three interviews serve as milestones in understanding the late Joshi and his accurate contributions to the nation. The fourth part, titled ‘Supplementary’, comprises 17 articles that highlight Joshi’s three-dimensional skills in literature, culture, and administration, with his cultural prowess being the most renowned. He is hailed as an immortal inspirer, a shining star of folk literature, and an ideal man who upheld truth, consciousness, and bliss. The fifth part, titled ‘News’, includes 14 articles that praise Joshi’s extensive works in various fields. It also mentions that his body was donated to a hospital for further studies by medical students. Similarly, it mentions that the Government of Nepal, along with the honorable President and Prime Minister, mourned Joshi’s demise. The ‘Poem’ section features three poets who express their sympathies through rhymes, while the final section, ‘Pictures,’ visually depicts the aforementioned words. In conclusion, by exploring the attributes of this legendary man, it becomes evident that he has left behind persuasive legacies for the Nepali people to carry on, illuminating the future of the nation. Joshi’s legacies can be succinctly divided into three interrelated aspects, which are deeply intertwined in his arduous works: (i) Cultural investigation, (ii) Development of literature, (iii) National and international travel. Joshi’s first legacy lies in his cultural investigations. As the first director of the Archeological and Cultural Department, he initiated investigations primarily within the country. Despite being born in the capital city, he extensively traveled to remote places such as Tanahun, Lamjung, and Sinja in Karnali, collecting folk songs and heritage. Wherever he went, he conducted research unhindered by political or local influences. His book ‘Hamro Lok Sanskriti’ (Our folk culture), the winner of the first Madan Puraskar, is about the folk songs of rural Nepal. Similarly, his work ‘Karnali Ko Lok Sanskriti’ (Karnali’s Folk Culture) explores western Nepal’s ethos. Joshi also visited China to teach Nepali language, literature, and culture at the Peking Broadcasting Institute, where he was celebrated as an innovative scholar. During his visit, he conducted research on Araniko, an eminent artist who had gone to Beijing and built the White Stupa, and compiled a book on him. Recognizing the importance of cultural identity in development, Joshi established the National Theater in Kathmandu, the Archeological Garden in Patan, the Archeological Museum in Taulihawa, and the National Painting Museum in Bhaktapur. He extensively researched archaeology, cultural diversities, and the heritage of Nepal, presenting papers on these subjects globally. Second, Joshi was a model scholar in Nepali literature. He initially learned the alphabet at home and later enrolled at Durbar High School in Kathmandu. He completed his graduation from Tri Chandra College. Influenced by renowned writers like Bal Krishna Sama, Laxmi Prasad Devkota, and Lekh Nath Paudel, Joshi wrote dozens of books in Nepali, Newari (Nepal Bhasa), and English. He was a prolific writer, exploring folk songs, epics, plays, children's literature, grammars, biographies, and more. His literary contributions were recognized with numerous awards, including three Madan Puraskar prizes, the Order of Tri Shakti Patta, Gorkha Dakshin Bahu, Ujjal Kirtiman Rastradeep, and an honorary D Litt from Kathmandu University. Third, Joshi was a pioneering traveler who ventured far and wide within Nepal and globally. As mentioned earlier, he led a team to study the Sinja Valley in Karnali, which earned him two Madan Puraskar awards. He explored most parts of Nepal to collect folk literature and promote the importance of culture and arts, believing that they are the foundations of development and hold intellectual, moral, and spiritual significance. Joshi’s travels were not limited to the nation; he also visited various countries such as India, Sri Lanka, South Korea, Russia, Great Britain, the USA, and Canada. He went to China twice and is hailed as the first Nepali visitor to New Zealand. In conclusion, Joshi’s legacies emphasize the necessity of research in diverse cultures. It is crucial for individuals and universities to prioritize research in various fields as part of our culture. Therefore, this book is a captivating read that will continue to inspire young minds to adapt and innovate in their research endeavors, ultimately contributing to the development of our nation.

The little girl loved her younger brother immensely. So did the little guy. But when they were playing together, they didn’t get along very well. And, often, they wrangled. On many occasions, one of the parents had to intervene. The little guy had a knack for playing alone. This, again, irritated the little girl. She wanted him to be together with her. But the little guy often preferred playing on his own rather than playing together with his sister. So, the situation many times became quarrelsome. But the weekend was different. They remained occupied from the evening itself,  packing their stuff in the suitcase of their size. The next day after breakfast, each of them hauled their suitcase inside the trunk, the storage of the car. Daddy finally closed the tailgate, and checked everything. Everybody was inside the car. Daddy, then,  took the steering and drove. When he was  driving them to a new destination, both had no time to quarrel. The reason was both remained busy watching the changing terrain from the car window. Upon reaching the destination, they remained immersed in exploring the new surroundings. In one such overnight stay on the waterfront, both the little girl and the little guy had a great time. They learned many new things about the waterfront, and from the nearby museum. Watching the unending water from the terrace of the log cabin, the little guy inquired with his mother, “how come so much water here all around, Mama?” Mama explained, “We are here in the bay. It joins the sea. That is where all the river water finally comes to. In the bay, we see water all round from the land we are standing on. She further said, “The bay is a huge body of water surrounded by land on all three sides but with an opening to the sea. A similar place is also called a gulf. However, there is a difference between the two. The gulf is bigger and deeper than the bay. In either case, we see land around with so much water around, as well toward the sea.” Then the little girl asked, ‘Mama, where does so much water come from? Mama said, “It’s the miracle of nature, my darling. We understand not all. Yes, the river water finally gets to the sea. The body of water that flows is a river. It emerges out to flow either from the waterfalls in the mountains or the marshy land where the underground water gets collected to flow. It is called headwater. Beyond that, a greater area of water collection is called watershed area. A river could also be coming out from a lake, which holds water like a huge water tank. Along its way, it gets many tributaries as well, increasing its body of water. A tributary is a river that merges with a bigger river. The end of a river is its mouth. What this means is when the river empties its water either to a big river, a lake, or a sea, it does so through its mouth. We empty our food from our plates through our mouths. So does the river while emptying its own water. Thus, the river ends when it empties. You have seen the big river whenever we drive to the big city from our home, haven’t you? The little guy was quick to answer, “Yes, Mama.” “That big river finally has drained all its water into this very bay where we are now. Here that river exists no more,” Mama said. The little girl asked another question, “What lies beyond the sea?” Then it became mother’s turn to be quick to answer, “Ocean. It is a greater area of water than the sea. And there are five such oceans on our Earth. This Earth is common to all where we all live together with animals, fishes, and insects in different geographical boundaries called countries. As the little guy was becoming more curious and was about to ask more questions, Mama told the kids so lovingly, “Look, Daddy is already back from his morning exploratory walk. Now it’s time for me to prepare breakfast. I will talk about the ocean next time.” The kids now clustered  toward their Daddy with dazzling smiles. He hugged them together.

Nepali rock icon, singer and songwriter, actor and frontman of Robin and the New Revolution, Robin Tamang has died at the age of 60. For many who grew up during the nighties and the noughties, Tamang embodied the idea of a rockstar: a tall, swarthy fellow with a powerful voice and an undeniable stage presence. He inspired many youngsters to start a band of their own. Tamang was born in Bukit Timah, Singapore in 1963. He was the youngest son among the five siblings. He came to Nepal in 1996, and teamed up with Looza, one of the Nepali bands, to form ‘Robin N’ Looza’. Their first album ‘Nepal’ was released in 1998. It was one of the first blues-rock albums witn Nepali and English songs. Nepal’s rock music scene was still in its infancy at the time, and the music of Robin N’ Looza was loved by only select city crowds who attended concerts regularly and were devoted rock music fans. Many rock musicians of today attest to the fact that they would not have started a band had they not listened to Robin N’ Looza or seen them perform live during their teenage years. In 2006, Tamang formed Robin and the New Revolution, and the band was propelled to overnight success with hits like ‘Bhool Ma Bhulyo’, ‘Shine on Me’, ‘Keta Keti’ and ‘Dum Maro Dum’. Sunny Mahat, member of the blues-rock group Midnight Riders, says Tamang inspired and encouraged many upcoming artists and performers. “He was a rock legend, but he would often show up to see the live performances of bands that played their original songs to show his support,” says Mahat, who met Tamang for the first time almost two decades ago. Mahat remembers how overwhelming the meeting was for him. “But he was quite humble, and even offered me a drink,” he says. For Tamang, it didn’t matter if the band was new and not well-established, or if the songs they played were good or bad. “As long as the band was working hard to create something new, he was there to show his support,” says Mahat. “He loved music, traveling, motorbiking, and nature.” Before his passing, Tamang had been working on a new project. “It was something quite different from what he had been doing,” says Mahat of Tamang’s unfinished music project. Tamang’s demise was sudden, and a shock to the public and the people from the industry. He passed away on Tuesday at his residence in Budhanilkantha, Kathmandu. Fellow artists and fans have expressed their condolences in social media, remembering Tamang for the musical legacy he left behind. He is survived by his wife and two daughters.