The Prime Minister, Tshering Tobgay, said the non-hydropower debt has come down. During today’s discussion in the National Assembly, Lyonchhen said the decrease is by 10 percent, which is equivalent to Nu.5.6 billion.
This year, the non-hydropower debt stands at Nu. 51.7 BN.
The Prime Minister said the government has paid off Rupee debt to State Bank of India amounting to Rs.9 BN, and Rs. 4.5 BN to Punjab National Bank. He also said they have paid off Rs.5.4 BN as currency swap.
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Another Rs.1.8 BN has been paid off as interest for the loans the government had taken.
Lyonchhen Tshering Tobgay also said the government has reduced short-term borrowings, resulting in the improvement of foreign and rupee reserves.
As of September 30, the convertible currency stood at US$ 879 MN. Last year, it was US$ 721 MN. The Indian rupee reserve has also increased to Rs.14.3 BN this year as against Rs. 5.9 BN, last year.
