In a move offering an investment-friendly climate to foreign investors, the Government of Nepal is welcoming international credit rating agencies to rate the country\u2019s business environment.<\/p>\n
The government is keen on engaging globally-renowned agencies to assess the country\u2019s sovereign credit rating so as to determine the risk of doing business in Nepal.<\/p>\n
In this regard, the Ministry of Finance has already sought support from donor agencies, primarily the Department for International Development (DFID), to study the credit risk.<\/p>\n
According to the Revenue Secretary Sishir Kumar Dhungana, DFID has extended its support to help the Himalayan nation in finding an appropriate credit rating agency along with determining the modality of planned credit rating.<\/p>\n
US-based Moody\u2019s has already approached the government with its modality for measuring the creditworthiness of Nepal, informed Dhungana.<\/p>\n
\u201cWe\u2019ll wait for a few more suggestions to the government from donor agencies and rating companies in this regard. However, the process of credit rating of Nepal will begin in a few months,\u201d Dhungana<\/span> adds.<\/p><\/blockquote>\n
Dhungana feels that this move would give Nepal an access to international bond markets and thus raise foreign funds<\/a> for local investment.<\/p>\n