Tag Archives: government deposits

Jo Stiglitz and UN-DESA say USD reserve management and government deposits in banks exacerbated rupee crisis

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 …

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