Bhutan could soon have a policy to manage public debtPema Lhaden, Thimphu
Feb 16 2016
Bhutan would soon have a policy to manage public debt. The policy’s first draft is already in place.
A committee, led by the finance minister, Namgay Dorji had worked over a year on the draft.
“The committee has worked so hard,” said Lyonpo Namgay Dorji. He said they consulted and worked closely with the World Bank and Asian Development Bank.
“I think the policy is going to be comprehensive and benefit our country.”
Other committee members are from Royal Monetary Authority, Gross National Happiness Commission, and economic affairs ministry.
The draft will be put up to Gross National Happiness Commission for approval. If approved, the draft policy will be presented in the parliament in the coming summer session and to the Cabinet.
Apart from helping manage public debt, the policy will help check rupee outflow. It will also aid hydropower projects fund management.
Opposition says public debt management policy is critical taking into consideration the present scenario of the country’s economy.
They say they will fully support the government, if they come up with a sound policy.