The Bhutanese Leading the way.
The Nobel laureate said that Bhutan’s USD reserves is too high with low yields creating more debt through rupee borrowings and that government deposits in financial institutions fuels credit growth Noble laureate Professor Joseph Stiglitz pointed out weaknesses in Bhutan’s monetary (banking and financial regulation) and fiscal (government expenditure and …
Read More »Rupee crisis to have long-term impact on Bhutan’s socio-economic development
The government task force report on the rupee shortage has predicted a grave economic future for Bhutan if the rupee crisis continues unabated, impacting millennium developmental goals, socio-economic development, external debt servicing, dollar reserves and trade balance. After the Financial Year (FY) 2012-2013, the convertible currency or dollar reserves of …
Read More »Lyonchen proposes ways to concretize global happiness in New York
Prime Minister Lyonchen Jimi Y Thinley, in his opening address at the United Nations Head Quarter in New York City on 2 April, said that Gross National Product (GDP) not only should but must be replaced by Gross National Happiness (GNH) if mankind is to avoid its current unsustainable and …
Read More »The greatest resource of all is still the human brain
Every so often someone asks me: “What’s your favorite country, other than your own?” I›ve always had the same answer: Taiwan. “Taiwan? Why Taiwan?” people ask.Very simple: Because Taiwan is a barren rock in a typhoon-laden sea with no natural resources to live off of — it even has …
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