IMF approves $21.1 mn payment for Nepal

Washington, Nov 14: Reuters) The International Monetary Fund approved a 21.2 million dollars disbursement for Nepal after completing its second and third review of the impoverished Himalayan nation's economic performance.

''Nepal's Poverty Reduction Strategy Paper provides a sound basis for achieving higher growth,'' Takatoshi Kato, IMF Deputy Managing Director, said in a statement yesterday.

With the new disbursement, Nepal has drawn payments totaling 42.5 million dollars under a three-year Poverty Reduction and Growth Facility arrangement approved in November, 2003.

Reuters