The International Monetary Fund (IMF)'s Executive Board has decided to extend the timeline of the Extended Credit Facility (ECF) arrangement implemented for Nepal by additional two months.
According to the press release issued by IMF on Wednesday, the program would continue up to 11 July 2026 with the extension.
The timeline has been extended to allow sufficient time for the completion of the seventh and final review of the ECF arrangement, the IMF informed.
The 38-month IMF arrangement for Nepal was approved on 12 January 2022. Under this program, Nepal obtained access equal to 180 percent of its 'Special Drawing Rights' (SDR) quota, amounting to 282.42 million US dollars. According to the IMF, two additional months were added to provide sufficient time for the seventh and final review under the IMF program.
Nepal has committed, through the IMF program, to maintaining financial stability, strengthening foreign exchange reserves, improving public financial management, and advancing economic reform programs.
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