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SAIM College Guides Nepal's Financial Horizon with Public Debt Insights

December 25, 2023
SAIM College Guides Nepal's Financial Horizon with Public Debt Insights

In the program led by Dr. Biswo Poudel, the inaugural session of the insightful paper presentation event, titled "Public Debt Management in Nepal: Challenges and Prospects," was organized collaboratively by SAIM College, Nepal Association of Humphrey Fellows (2022–2024), and F73 Foundation. Dr. Biswo Poudel, the Vice-Chairman of the National Planning Commission, focused on the topic "Public Debt Management in Nepal: Challenges and Paths Forward" during the thoughtful session, expressing his views on the subject.

The program, attended by key figures such as the Director of Public Debt Management, representatives from the Ministry of Finance, Humphrey Fellows Association, and F73 Foundation's Executive Director in Nepal, Michael Gill, aimed to shed light on the comprehensive history of public debt management in Nepal, starting from the eighteenth century. Dr. Poudel recalled historical facts and emphasized the significant growth in public debt from 2017 to 2023. Concerns were raised about the impact of public debt on various sectors, and participants discussed the need for collaborative efforts to manage its effects.

In the discussion, participants raised pertinent questions related to government expenditures and prioritization of spending. Michael Gill expressed concerns about the impact of foreign aid on the education sector, highlighting the role of economic activities and revenue generation in influencing national debt. The program concluded with the Public Debt Management Director's closing remarks, urging the government to implement a compatible system, enhance coordination among various departments, and strengthen public debt management. The collaborative effort aimed to solidify public debt management in Nepal, ensuring its stability and utilizing the benefits for national development.

The program, with diverse representations from scholars, students, professionals, leaders, and government officials, served as an essential platform for collaborative discourse on Nepal's economic future. It emphasized effective public debt management and strategic planning, fostering a collective approach towards building a resilient foundation for the nation's long-term development.

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