Kathmandu, May 21 -- long tug-of-war between the ruling Nepali Congress and CPN-UML parties over the appointment of the central bank governor ended on Tuesday after the government appointed economist Biswo Nath Poudel as new governer of the Nepal Rastra Bank.

He is the 18th governor of the central bank.

Poudel earlier served as vice-chairman of the National Planning Commission for 14 months. He then contested the general elections from Chitwan-3 on a Nepali Congress ticket in 2022. (He lost to Hari Dhakal of the Rastriya Swatantra Party.)

On Tuesday afternoon, a Cabinet meeting, based on the recommendation of a search committee led by Deputy Prime Minister and Finance Minister Bishnu Poudel, decided to appoint Poudel as the new governo...