IDS trashes monetary policy

Kathmandu, March 1:

The recently-released mid-term review of monetary policy for fiscal year 2005-06 has failed to address important issues like inflation, escalating poverty, capital flight and deteriorating financial situation, states a press release issued by Ins-titute for Development Studies.

The review has neither proposed new programmes nor shown any objective review to address these problems, adds the release. The release signed by Raghav Dhoj Pant, executive director, states that even the objective of the review is ambiguous and the review tries to divert focus towards irrelevant issues.

The review has not addressed the bad performance of some private banks and its likely impact on eco-nomy. It reflects that either the NRB management committee is inefficient or it is being irresponsible.