The Bhutanese Leading the way.
BOSTON – China highlights a long-debated question about economic development: Can a top-down autocracy outperform liberal market economies in terms of innovation and growth? Between 1980 and 2019, China’s average annual GDP growth rate was over 8% – faster than any Western economy – and in the 2000s, its economic trajectory exceeded …
Read More »The factors behind the high rates of sexual assault and molestation of children in Bhutan
Tenzing Lamsang/ Thimphu The Psychiatry Department of the Jigme Dorji Wangchuck National Referral Hospital (JDWNRH) within a space of two weeks are giving counseling for 5 cases of rape and attempted rape of young girls ranging between the ages of 6 and 9. The 5 cases Two of the cases …
Read More »How much hike can the 5th Pay Commission really afford?
Commission to look at Clean Wage and Performance based pay system Tenzing Lamsang/ Thimphu With the government forming the 5th pay commission on 19 October through an executive order, there are expectations among civil servants of a major pay hike coming up. This perception has come up in line with …
Read More »RMA to submit Australia education loan, BDBL moratorium and 6 months cooling period to Board
Staff Reporter/ Thimphu Recently a meeting was held between the Finance Minister Namgay Tshering, Royal Monetary Authority and Financial Institutions. The three main points of discussion in the meeting was on the education loans for Australia, the issue of the moratorium on Bhutan Development Bank Limited (BDBL) and National Cottage …
Read More »More than 1,000 civil servants resign from Jan to Oct 2022
Staff Reporter/ Thimphu As per the latest data from a period of January 2022 to October end 2022 a total of 1,704 civil servants have separated from the civil service of which 1,033 have voluntarily resigned. Both of the above numbers which are for 10 months are higher compared to …
Read More »Gups says BDBL moratorium impacts livelihood but RMA says it is for financial stability
Meanwhile BDBL reduces NPL from 17.37% to 9.22% with RMA set target being 7.5% With the Royal Monetary Authority (RMA) suspending all loans including Bank Guarantees (BG) of Bhutan Development Bank Limited (BDBL), Royal Insurance Corporation Limited (RICBL) and Cottage and Small Industries (CSI) bank, Gups say rural livelihood has …
Read More »Businesses not happy with 6-month NPL cooling and period
The business sector is not happy with the Royal Monetary Authority’s (RMA) imposition of a six-month cooling period of no loans if a loan becomes a Non-Performing Loan (NPL). Bhutan Chamber of Commerce and Industry (BCCI) held a general meeting, in which people representing the various business sectors of the …
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