After much delay and several twists and turns, Nepal Rastra Bank (NRB) finally got a new governor, Biswo Poudel, about a month ago. There was a 46-day gap between the retirement of the previous governor and the appointment of his successor. Although the appointment came late, the central bank has now secured a well-qualified leader. Poudel is a respected economist with deep knowledge of Nepal’s economic history and the foresight to prepare for the future, making him a fitting choice to lead the central bank of the country at this critical time.
Poudel possesses a deep understanding of Nepal’s geography, cultural dynamics, social structure and the foundations of national development. He is well-versed in national planning, business, economics and the broader financial and economic landscape.
The governor brings with him a wealth of experience and experience, having already served as vice-chairperson of the National Planning Commission, senior economic advisor to the Ministry of Finance and chair of the Board of Governors at ICIMOD, adviser to the International Labour Organization (ILO), led regional forums under the Colombo Plan and UNESCAP, and published research articles in several international economic journals. At the time of appointment as the governor, Poudel was a visiting associate professor at the Kathmandu University School of Management.
His academic and professional expertise spans natural resource economics, labour markets and economic history—areas closely aligned with Nepal’s long-term development priorities.
Over the years, he has closely studied monetary policies and the functioning of banks and financial institutions (BFIs). The business community, economic stakeholders, the stock market and other financial sectors have welcomed his appointment.
A former Minister of State for Finance and economist, Udaya Shumsher Rana, remarked that since the appointment of the new governor, all eyes are on the central bank, with its new leadership appearing more influential than even the Ministry of Finance.
Widespread optimism following his appointment suggests a hopeful outlook for the country’s economic progress in the days to come.
If this momentum continues, Poudel’s five-year tenure is likely to have a positive and lasting impact on the national economy.
This is an important and encouraging development for the public, as key aspects of the economy—such as controlling inflation, ensuring stable and positive economic activity, generating employment, keeping industries running smoothly and fostering a harmonious relationship between banks and the business community—largely depend on the leadership of the NRB. With Poudel at the helm, there is a sense of optimism and satisfaction among all concerned, at a time when the private sector, BFIs and the broader economic landscape are facing numerous challenges.
Businesses and industries have been struggling to recover fully since 2019, when a Covid-19 pandemic hit the country and consigned its economy to sickbed. Against this backdrop, the NRB leadership must prioritize the revival of these sectors and focus on correcting structural economic imbalances. This is what the country needs—and what the people expect.
The country faces a multitude of economic challenges. The central bank had long been in need of a capable scholar, who could address these pressing issues with expertise and vision. Economic recovery cannot be achieved through rhetoric alone; it demands strong leadership, a positive mindset and dedicated effort. Governor Poudel is surely aware of this reality. With the support of NRB’s competent team, let’s hope, he manages to work diligently toward the nation’s economic development and progress.
The author, a member of the Supreme Court Bar, has been practicing corporate law for around three decades
