Kathmandu, Sep 11 (SocialNews.XYZ) A team from credit ratings agency Fitch has arrived in Nepal to conduct a first-ever sovereign credit rating for the country, a government official said on Wednesday.
A Fitch team including two experts arrived in Nepal on Tuesday and they are scheduled to hold a series of meetings with government officials and representatives of the private sector in the next few days, said Mahesh Bhattarai, spokesperson for the finance ministry.
"The agency is expected to take a few months to evaluate Nepal's situation," he told Xinhua news agency.
Nepali officials said that a relatively better score in sovereign rating would help the country attract foreign investment and ease borrowing from abroad.
Bhattarai noted that the government had trained officials on how to produce documents and details for the rating agency.
As the sovereign rating will show Nepal's weaknesses too, Bhattarai believes that it will help Nepal identify the areas where reforms are needed to address the weaknesses.
The credit rating is long overdue as the Nepali government announced its plan as early as 2019.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
