Kathmandu: The International Monetary Fund (IMF) is keeping its residential office in Nepal, after 12 years of closing its unit in the country.

The IMF has appointed Teresa Daban Sanchez as the resident representative for Nepal. As of now, the Delhi-based office of the IMF has been looking after the affairs of Nepal, India and Maldives.

Earlier, the IMF left Nepal citing its financial problem. Recently, the international organization has approved loans of US $ 398.50 million under Extended Credit Facility to Nepal as the country battles to maintain its foreign currency reserves.