October 3, 2015 7:35 AM

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IMF predicts down slide in Nepal's economy

International Monetary Fund, IMF, has predicted a down slide in Nepal's economy, which was hit by a massive earthquake early this year and facing unrest and disruptions to economic activity owing to protests by the minority groups over the new Constitution. Noting that the earthquakes in April and May claimed thousands of lives and caused major damage, the IMF said that it also caused economic growth to slow to 3.4 per cent in 2014-15, down from 5.5 per cent in 2013-14. After the conclusion of its latest mission to the Himalayan country, the IMF said that Losses in agricultural production and damage to transport systems further pushed up prices, raising inflation to about 7 per cent.

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