Govt has no plan for demonetisation: Finance Minister Wagle

Finance Minister Swarnim Wagle has firmly stated that the Nepali government has no intention of introducing demonetization. Wagle addressed the matter during a policy and leadership dialogue hosted by the Rastriya Swatantra Party in Kathmandu. Participants had questioned the government's stance on demonetization as a potential measure to combat financial irregularities. However, Wagle asserted that the government does not consider it an appropriate step at this time. "We heard some interesting questions about demonetization. But at present, we do not think it would be appropriate for us. We have not considered demonetization," Wagle said. He further noted that countries which have implemented demonetization have not consistently seen positive results. The minister's comments come amidst public debate in Nepal regarding the withdrawal and replacement of existing currency notes to curb illicit money and enhance financial transparency.

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We heard some interesting questions about demonetization. But at present, we do not think it would be appropriate for us. We have not considered demonetization.