Nepal’s Finance Minister, Rameshwar Khanal, and the Secretary of the Ministry of Finance are scheduled to travel to the United States to participate in the joint Annual Meetings of the World Bank Group and the International Monetary Fund (IMF). The visit, approved by the interim administration’s Council of Ministers on Thursday, comes as Nepal addresses the significant political and economic upheaval caused by recent protests.
The meetings provide a platform for discussions on global economic cooperation, financial stability, development aid, and poverty reduction. For Nepal, a low-income developing nation, this platform is deemed crucial for potentially securing loans, grants, and technical assistance to support economic recovery and infrastructure rebuilding following the unrest. The Finance Minister is expected to prioritize efforts to restore investor confidence and address the fiscal losses incurred during the demonstrations.
The 2025 Annual Meetings are scheduled to take place in person from Monday, October 13, to Saturday, October 18, 2025, at the headquarters of the IMF and World Bank Group in Washington, D.C., United States. The event brings together finance ministers, central bank governors, policymakers, and private sector leaders from over 190 member countries.
Key features include plenary sessions, committee meetings, and side meetings. Discussions will focus on global economic outlooks, debt sustainability, and climate finance. Committee meetings of the Development Committee (World Bank) and the International Monetary and Financial Committee (IMFC, IMF) will address policy and operations. Side events will include a variety of forums, including the Civil Society Policy Forum, focusing on topics such as poverty eradication and sustainable development.
Nepal’s delegation is likely to seek support for fiscal recovery, job creation, and governance reforms to address the underlying economic concerns that fueled the protests. The visit follows a period of severe unrest in Nepal triggered by a government ban on 26 social media platforms and widespread public anger over political corruption. The protests, primarily driven by Generation Z youth, escalated into a major upheaval that resulted in at least 100 deaths and over 1,000 injuries.
The ban, implemented on September 4, was aimed at social media platforms that had not registered under new regulations. It coincided with a viral anti-corruption campaign targeting politicians’ families, which reportedly intensified youth mobilization. Demonstrations turned violent, with police utilizing live ammunition. Protesters subsequently stormed and set fire to the Federal Parliament, the Singha Durbar (Nepal’s administrative center), the Supreme Court, and the residences of political leaders.
The protests culminated in the resignation of Prime Minister K.P. Sharma Oli and the establishment of an interim government led by former Chief Justice Sushila Karki on September 12.
Initial damage estimates indicate a significant economic toll from the unrest, with various industry associations reporting substantial losses. The Confederation of Nepalese Industries (CNI) estimates total infrastructure damage (public and private) at approximately $2.1 billion, roughly 5% of Nepal’s GDP.
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) estimates direct private sector damages at $550 million. Specific losses include an estimated $175 million in damages to nearly 25 hotels and $105 million to auto dealers and showrooms.
Over 15,000 private sector jobs were affected, including approximately 10,000 at one supermarket chain alone. The unrest has disrupted tourism, border trade, and remittances, further exacerbating Nepal’s economic vulnerabilities. A judicial commission has been formed to investigate the deaths and arson, and families of the deceased have been offered up to 1 million Nepalese rupees (approximately $7,000) in compensation.
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Susan Shrestha
View More PostsSusan Shrestha is a Europe-based journalist. He covers a wide range of topics, from local matters to global affairs. Shrestha previously worked as a reporter for Khasokhas in Nepal.
