The key to doing so was the steps taken by the National Treasury, starting in September 2002, to pay off the balance on the GFECRA, principally by issuing the SARB with bonds. We were then able to sell these bonds, either directly or by switching into forthcoming maturing issues, and so drain the excess liquidity on a permanent basis.
Honorable Prime Minister Mr. Pushpa Kamal Dahal, Chairman of Global Alliance for Banking on Values and CEO of Triodos Bank Mr. Peter Blom, Executive Director of GABV Dr. Marcos Eguiguren, Chairman of NMB Bank Mr. Pawan Kumar Golyan, CEO of NMB Bank Mr. Upendra Poudyal, My friends from the financial community in Nepal Media friends, Distinguished Guests from Nepal and Abroad Ladies and Gentlemen, It gives me immense pleasure to address this 9th Global Alliance for Banking on Values (GABV) Conference, being held here in Kathmandu.