Kathmandu. Due to the Genji agitation on September 23 and 24, the work of Nepal’s country rating has been stopped for the time being. Due to the destructive agitation that lasted for 2 days, the work of country rating has been stopped for the time being.

A representative of international agency Fitch Ratings was scheduled to visit Nepal on September 24 to take stock of the situation for sovereign credit rating. According to the Ministry of Finance, the process has been suspended due to the agitation by Genji since the 23rd. Joint Secretary and Spokesperson at the Ministry of Finance, Tanka Prasad Pandey, said that the work has been halted for the time being due to the protest.

“Representatives of Fitch, the international agency for sovereign credit rating, were scheduled to arrive in Nepal on the 24th for sovereign credit rating,” Pandey said, “They could not come on the 24th after the agitation started on the 23rd.” It has been postponed for the time being. ’

Fitch, an international agency for sovereign credit ratings, has been rating Nepal. Foreign investment has been decreasing in Nepal for a long time. “Foreign investment has been decreasing in Nepal since the last 20 years,” said Nepal Rastra Bank Governor Prof Dr. Bishwanath Poudel says, “Fitch’s team could not come when they were preparing to come to Nepal, which will destroy our credibility.” “This will be a problem not only now but also in the long term,” he said.

Last year, Fitch’s sovereign credit rating included a BB minus rating in Nepal. If there had been no Genji movement, the sovereign credit rating would have been in place for the year. The Ministry of Finance also did a lot of work for this.

Outgoing Finance Minister Bishnu Poudel had even called a meeting at the ministry to start homework for the rating of August 9. In a meeting held at the Ministry on November 9 for the preparation of credit rating, it was decided to prepare well and present the achievements made by Nepal in a systematic manner.

During the meeting, Poudel directed the bodies concerned to make preparations to send a message that Nepal has made remarkable progress in the last one year. Millions of rupees have been lost due to the agitation by Genji since the day before Fitch’s team arrived in Nepal. What message will it send to the international market? What will be our credibility? Governor Poudel argues that the concern has increased.

In this year’s rating, the government was preparing to give priority to the reforms in the areas of economy, policy and legal sector and good governance, as well as the achievements made in political stability, roads, tourism and hydropower.

Zenji’s agitation against corruption and misgovernance in the country has raised further questions about good governance and political stability. It is said that it will take time to improve the number of tourists coming to Nepal due to the Genji movement.

This is the time for tourists to come to Nepal. Some argue that the fires at the Hilton Hotel, Barnabas and other hotels during the Jenji protests will reduce the number of tourists. It is also said that this may affect the rating now.

Had it not been for Genji’s agitation, the government had expected that Nepal would get a better rating than last year. As of mid-August, Nepal’s total foreign exchange reserves stood at Rs 2.806 trillion. The reserve has reached 20.03 billion in US dollars. Such reserves are sufficient to sustain imports of goods and services for 16.6 months.

The government had expected that Fitch would give Nepal a better rating than last year, based on the high foreign exchange reserves in Nepal and the projection of high economic growth of 6 percent. All this has been postponed due to the Genji movement.