Biswo Poudel as governor of NRB

Bishwa Poudel has been appointed as the governor. The cabinet meeting appointed Poudel as the governor of the central bank. Government spokesperson and Minister for Communications and Information Technology Prithvi Subba Gurung informed that Poudel has been appointed as the governor. The central bank has got its 18th governor amid much turmoil.

The new governor has been appointed about a month and a half after the governor post fell vacant in the central bank. The process was delayed due to much turmoil between the main ruling parties, the Nepali Congress and the UML, over who should be appointed as the governor.

After the government was on the verge of collapse due to the absence of a governor, Prime Minister KP Oli appointed Poudel as the governor, supporting the proposal of Congress President Sher Bahadur Deuba. Poudel is considered to be private sector-friendly, capital market-friendly and a supporter of a liberal and open economy. The news of Poudel's appointment has added to the excitement in the market. The newly appointed governor, Poudel, also has a good understanding of the capital market.

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).