Non-resident foreigners’ bank accounts in country is money laundering: RMA...
He added that closing the accounts was always a priority Earlier this week, the RoyalMonetary Authority(RMA) Governor, duringa meeting with about 150 representatives from the private sector, made it...
View ArticleNow the crisis is in the kitchen
Bhutanese kitchens are getting harder by the day to run. From imported rice to imported vegetables to imported meat, the buying of groceries till it is laid out on the table ready to consume is one...
View ArticleTen days left for vegetable ban, concerned authorities gearing up
The Prime Minister, Lyonchen Jigmi Y Thinley in recently stated on national television that the government will stop the import of vegetables from 5 May. Ten days remain before the actual halt....
View ArticleOverbilling creeps into border towns
Time and again the Royal Monetary Authority (RMA) has been requesting the public to refrain from dishonoring the INR informal exchange but each time a new problem crops up. This time, the practice of...
View ArticleUnderstanding the Rupee Report
The Rupee Shortage Task force report submitted on 5th March 2012 is overall a comprehensive report that gives dire warnings if measures both short term and long term are not taken to curb the crisis....
View ArticleRupee 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...
View ArticleBTN 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....
View ArticleLooking toward mega projects as the last messiah to solve the country’s INR...
The government in the midst of Rupee crunch is banking upon the long term impacts of mega projects like the Education City, the Amo Chhu Township, among other projects to ease the INR crunches. With...
View ArticleChange in import method will not affect vegetable vendors
The announcement, of the Food Corporation of Bhutan (FCB) as the wholesale agent for all the vegetable vendors was a cause for concern among the vendors who are already worried over the Royal Monetary...
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Jo Stiglitz and UN-DESA say USD reserve management and government deposits in...
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...
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