CHITWAN, DECEMBER 20

CPN-UML Vice-chairperson Surendra Pande has accused the government of failing to handle the economy of the country.

"If we look at the economic condition of the country, it's obvious to all of us that almost all indicators are performing badly. While we have liquidity crisis on the one hand, causing high cost of capital, on the other, we have shrinking foreign currency reserve and increasing trade deficit," said the former finance minister.

"Along with the political crisis, we have deepening economic crisis simultaneously, but the government seems to be dithering in addressing this worsening condition. This indicates that we are in for a difficult time ahead," he said.

Commenting on the American aid programme Millennium Challenge Corporation, the former minister said it was no surprise that Millennium Challenge Corporation had certain conditions.

"It's no secret that every assistance or grant package has strings attached, no matter which country or donor organisation is providing the aid.

We have had conditions attached when we got loan from China and even from India. So accepting MCC shouldn't be a big issue," he said.

Further, Pande feared that rejecting the aid might adversely affect relations with the lending country.

"Accepting or rejecting assistance doesn't have to do so much with the fund as with its possible impact on our relations with the US and future assistance too," the opposition leader said.

"Therefore we must decide on this issue wisely and responsibly," he added.

On a different note, Pande described election as the only solution to all the problems facing the country right now, be it executive, judiciary, or legislative-related.

A version of this article appears in the print on December 21, 2021, of The Himalayan Times.