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 »BTN depreciates by 20%
The INR crunch has brought the value of the BTN down by 20%. This means that Nu 100 is equivalent to Rs 80. People are now willing to pay an extra 20% BTN in order to get supplies at the border towns. There are two factors determining this: one is …
Read More »Indian ambassador assures government of GoI’s support during rupee crisis
The Indian ambassador to Bhutan, Pavan K Varma, said that the Government of India (GoI) will standby Bhutan to help tide over the rupee crisis. This, the Indian ambassador highlighted in an interview with The Bhutanese. The Ambassador said “Bhutan enjoys bipartisan support across political parties in India and India …
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