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 …
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