. Governor of Nepal Rastra Bank, Dr. KATHMANDU: Minister of State for Foreign Affairs Bishwanath Poudel has said that a ‘Sovereign Wealth Fund’ is being established to develop the foreign currency reserves. He said that he was trying to establish a sovereign wealth fund to utilize the country’s foreign exchange reserves and its return was low.
He said this while speaking at a post-budget press conference organized by the Ministry of Finance on Sunday.TAG_OPEN_div_6 “We have enough foreign exchange reserves to sustain our imports for 7 months. However, there is foreign currency that can sustain imports for more than 18 months. But the yield is only 4 percent,” he said. Wagle said.
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