Posts Tagged ‘ bhutan economy ’

ADB downsizes govt's growth projection

As against the government projection to attain 10 percent growth rate, Asian Development Bank projects that Bhutan will attain only 6 percent growth rate in the fiscal year 2010 that will grow up to 6.5 percent in 2011. Bhutan has a record of relatively strong growth that has cut poverty and advanced social development. It […]

Published on Apr 13 2010 // Main News

Entry of foreign bank is both opportunity and challenge: IMF

February 25, 2010: International Monetary Fund (IMF) has expressed both happiness and caution on the entry of foreign banks in the banking industry of Bhutan. Though it said, the entry would open up markets for competition and improve distribution of money, the IMF said it will also pose challenges on loans and credits. The international […]

Published on Feb 25 2010 // Main News

Govt opens door for external borrowings

January 31, 2010: The cabinet has granted permission to private entrepreneurs and organizations for borrowing from each other and from foreign sources. The private sector had urged the government to open that door saying that the local banks were not able to meet financial requirement for mega projects which require exorbitant funds. The Royal Monetary […]

Published on Jan 31 2010 // Main News

IMF suggestions ignored

January 20, 2009: The commercial banks of the country have rejected the recommendation made by the International Monetary Fund (IMF) to realign the interest rates in Bhutan with minimal difference with India. In a report, the Royal Monetary Authority (RMA) said it is necessary to keep least difference in interest rates in two countries to […]

Published on Jan 20 2010 // Main News

In Bhutan, a stock trade a day keeps stress away

December 09, 2009: Traders seeking a break from volatile global markets may want to head to Bhutan’s bourse, where stocks are traded on just four computers — when they have not crashed — only twice a week. “I’ve got one order to sell 2,820 shares,” said 23-year-old Deki Peldon, the only broker for today’s short […]

Published on Dec 09 2009 // Main News

Bhutan not good for doing business

December 07, 2009: Bhutan has performed bleak picture in the doing Ease of Business Report 2010 produced by the World Bank group. This is drop by two places compared to Doing Business 2009. Bhutan is ranked 126 in the survey of 183 countries to study the environment of ding business. Singapore tops the list while […]

Published on Dec 07 2009 // Main News

Remittance increases at par with Diaspora

December 02, 2009: The year 2008 was certainly a turning point for enlarging the Bhutanese Diaspora, let we forget that refugees resettled from Nepal are not formally accepted as by the regime as Bhutanese. As this new democracy moves with shoes of the World Trade Organization (WTO) for global business and opening up doors for […]

Published on Dec 02 2009 // Main News

Bleak picture of employment

November 10, 2009: In his address to the graduation ceremony, Prime Minister Jigmi Thinely had urged the young graduates to seek job placement in private sector, providing hints the government could absorb only few of those passed. In the upcoming civil service commission exams, only 336 graduates will get job in government offices out of […]

Published on Nov 10 2009 // Main News

Banking to go ‘E’

November 09, 2009: Bhutan is much shy in adopting democracy, did it very late but its modest approach to IT has turn it an IT savvy nation. Most things are turning to go by internet, the race is fast. The march continues with opening of the IT Park. Projects are on to bring governance under […]

Published on Nov 09 2009 // Main News

Economic growth goes downturn

November 06 2009: In the last few years, UN reports had maintained that Bhutan achieved around 21 percent growth in Gross Domestic Product (GDP). However, last year the country achieved only 5 percent growth. The ruling party had targeted for 9 percent. In 2008, the country went through negative growth in construction industry – 6.4 […]

Published on Nov 06 2009 // Main News