KATHMANDU : Nepal is tightening imports of cars, gold and cosmetics as its foreign exchange reserves have fallen, a central bank official said on Monday, after the government suspended the central bank governor and named his deputy the interim chief.
A government official said on condition of anonymity that Adhikari was accused of leaking sensitive financial information to the media. Reuters could not immediately contact Adhikari, whose mobile phone was switched off. He said importers would be issued letters of credit to bring in 50"luxurious goods" only with full upfront payments with the bank, declining to name all the items.
The balance of payments had a deficit of $2.07 billion in the first seven months of the current financial year, compared with a surplus of $817.6 million in the same period the previous year.
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Source: IndependentSG - 🏆 9. / 63 Read more »