KATHMANDU, Oct 14: Finance Minister Dr Prakash Sharan Mahat has expressed commitment to bring reforms in fiscal governance and transparency suitable to Nepali soil.

Minister Dr Mahat said this in a meeting with International Monetary Fund (IMF)'s deputy managing director for the Asia-Pacific Bo Li.

In the meeting, matters related to amendment to the Rastra Bank Act, fiscal sector reforms and monetary policy improvement while receiving detailed credit facility.

On the occasion, Minister Mahat shared Nepal's commitment to bring reforms in fiscal governance and transparency in a way to suit the country's soil.

He urged the IMF senior official to take into consideration some special needs of Nepal.

"We are committed to fiscal good governance and openness but everything would not be as expected. We do have our own structure," Dr Mahat said in the meeting.

"There are problems in understanding but we are clear on to-do-list.

In response, Li said, "We are positive if you embrace reforms. Our job is to instruct for reforms."

An agreement was reached for the IMF Board to endorse the third installment of ECF following the discussion.

Minister Mahat's secretariat said the meeting between the IMF Director and Finance Minister Manat was positive.

Also present in the discussion were Finance Secretary Dr Krishna Hari Pushkar and Nepal Rastra Bank governor Maha Prasad Adhikari.

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