Kathmandu. KATHMANDU: The Executive Board of the International Monetary Fund (IMF) has decided to extend the extended debt facility (ECF) programme for Nepal by two more months.

The IMF said in a statement on Wednesday that the programme will remain in place until July 11, 2026. According to the IMF, the extension of the program is to allow sufficient time for the completion of the seventh and final review of the ECF program.

The 38-month ECF programme for Nepal was approved on January 12, 2022. Under the programme, Nepal had access to 282.4 million US Dollars (180 percent of the Special Drawing Rights (SDR) quota.

According to the IMF, the extension of two months was given to allow sufficient time for the seventh and final review of the ECF program. Nepal has pledged to maintain fiscal stability, strengthen foreign exchange reserves, improve public financial management and undertake economic reforms through ECF programme with the IMF.