The government has appointed economist Dr Biswo Poudel as the 18th governor of Nepal Rastra Bank (NRB), concluding weeks of political negotiation over who would lead the central bank.

A Cabinet meeting held on Tuesday finalised Poudel’s appointment based on the recommendation of a selection committee headed by Deputy Prime Minister and Finance Minister Bishnu Paudel. The committee had shortlisted three candidates—Biswo Poudel, acting governor Neelam Dhungana Timilsina, and Dinesh Bhattarai.

"The Cabinet has decided to appoint Biswo Poudel as the new governor of Nepal Rastra Bank," said government spokesperson and Minister for Communication and Information Technology Prithvi Subba Gurung after the meeting. "The decision was taken after careful consideration of all candidates recommended by the committee."

The position had remained vacant since April 7, when the tenure of former governor Maha Prasad Adhikari ended. In the interim, deputy governor Neelam Dhungana Timilsina had been serving as acting governor.

Poudel’s appointment had been widely anticipated after he resigned from the recommendation committee on May 11, amid speculation that he would be nominated for the role. As per existing legal provisions, committee members are ineligible for the position under consideration.

Poudel brings an extensive background in economics, public policy, and international cooperation. He earned his PhD in Economics from the University of California, Berkeley in 2010.

He served as vice chairperson of the National Planning Commission, senior economic advisor at the Ministry of Finance, and chief economic advisor to the Confederation of Nepalese Industries (CNI), among others.