The Post-Washington Consensus | Foreign Affairs

The Post-Washington Consensus | Foreign Affairs

Health Care over Climate change ...

In an recent article Mr.Anil Bhattarai argued " The World Bank’s mission is currently in Kathmandu as a part of the process of finalising a grant and loan for Pilot Project on Climate Resilience (PPCR). As it stands, US $60 million of the total of US $110 million proposed is supposed to be given as a loan, the rest as a grant. The putative aim of the project is to increase the resilience of Nepalis in the face of vulnerabilities arising out of changing climates. The impacts of changing climates might be too complex to understand for ordinary Nepali citizens, but most of them have done virtually nothing to cause this. To be more precise, most of us—both living at present and long dead—did not spew the colossal amount of carbon and other heat-trapping gasses into the earth that led to global warming. This makes it highly unethical to receive a loan for dealing with the impacts of climate change we had very little role in creating in the first place." (Source: kathmandu post)

My thought:

Nepal should care less about vulnerabilities arising out of changing climates and more about other challenges like health ?? If Nepal is planning to borrow money from the multilateral agencies the fund should go towards improving health sector of the country............

WHY ?

1. "In 2008, the Copenhagen Consensus Center asked a group of the world’s top economists to identify the “investments” that could best help the planet. The experts – including five Nobel Laureates – compared ways to spend $75 billion on more than 30 interventions aimed at reducing malnutrition, broadening educational opportunity, slowing global warming, cutting air pollution, preventing conflict, fighting disease, improving access to water and sanitation, lowering trade and immigration barriers, thwarting terrorism, and promoting gender equality. Guided by their consideration of each option’s costs and benefits, and setting aside matters like media attention, the experts identified the best investments – those for which relatively tiny amounts of money could generate significant returns in terms of health, prosperity, and community advantages. These included increased immunization coverage, initiatives to reduce school dropout rates, community-based nutrition promotion, and micronutrient supplementation.By putting all benefits to individuals, communities, and countries in monetary terms. Expert researchers for the Copenhagen Consensus found that carbon offsets are a relatively ineffective way of reining in global warming and reducing its effects – $10 would avoid about $3 of damage from climate change. By contrast, $10 spent on Vitamin A supplements would achieve more than $170 of benefits in health and long-term prosperity.One lesson we can draw is that while global warming may exacerbate problems like malnutrition, communities bolstered by adequate nutrition will generally be less vulnerable to climate-based threats. Overall, we can typically best help through direct interventions, including micronutrient supplements, fortification, biofortification, and nutritional promotion." (Source:Project Syndicate )
2. Nepal health care workforce is inadequate with only 2.1 physicians, 2.2 nurses, 2.4 midwives, and 0.1 pharmacists per 10,000 population and these providers are skewed toward urban areas.
3. The proportion of the government budget allocated to Non Noncommunicable disease (NCD)-related activities for FY2009–10 is negligible, at 0.73 percent. Taxation of tobacco and alcohol products constitutes the main funding source for NCD activities. NCD spending is mainly on tobacco control, nutrition, and cancer programs (Source:World Bank)

good economics need not always mean good politics...Is Nepal's development economics tht good?

In terms of overall human development, Nepal has moved from being a ‘low human development' country with Human Development Index (HDI) less than 0.5 in the 1990s to a‘medium human development country’ (HDI between 0.5 and 0.8). However, amongst this group Nepal ranks in the bottom quartile (UNHDR, 2009). Nevertheless, between 1980 and2007, Nepal maintained an average annual HDI growth rate of 2.16%, the highest in the world (UNHDR 2009)

"One lesson of the Arab annus mirabilis, then, is that good economics need not always mean good politics; the two can part ways for quite some time. It is true that the world’s wealthy countries are almost all democracies. But democratic politics is neither a necessary nor a sufficient condition for economic development over a period of several decades." CLICK HERE TO READ MORE

Nepal's SME and its productivity........melting like the Himalayas

• About 100,000 of a total of 214,000 small scale industries have already ceased operations. More than 50 percent of those present under operation are financially ailing.
• Lengthy power cuts have forced cottage and small-scale industries in the country to reduce their production by up to 70 percent. The nation is suffering a 14-hour power cut every day.
  
• Small entrepreneurs also informed that increasing bank rates was also creating difficulty for them.

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http://www.economist.com/blogs/dailychart/2011/02/daily_chart_forests

http://www.economist.com/blogs/dailychart/2011/02/daily_chart_forests

PAF, Helvetas sign pact to uplift rural poor

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Khetan Group sells cash cow to foreign partner

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Nepal need Investments not loans

International Monterey Fund claims that the world is in a process of “double speed recover”. Developing nations are growing at a high single digit rates, whereas, developed countries are growing at a much slower rate. At the annual World Economic Forum Summit in Davos, policy wonks and economists concluded that developing countries are aiding the developed countries to gain economic growth momentum. Low economic growth in the west coupled with the escalating dangers of climate change has compelled western investors to look for investment avenues in uncharted areas of developing countries.Along with foreign institution investments, western investors are also investing in sector like renewable energy, agricultural, health, microfinance and education in the developing world. India, China and few African countries are the biggest recipients of investments in the sectors mentioned above. foreign equity injection in sectors like renewable energy, microfinance or education is not only providing decent financial returns to the investors but it also empowering the individual and the communities receiving these investments. Experts have coined financial investments that also have a positive social impact as impact investment.

Unfortunately, despite being a developing country Nepal has not had much success in attracting impact investments. Impact investment can help to drive up the entrepreneurial spirit among the youth of Nepal, create employment, improve the living standard and most importantly wean the country from foreign loans . Instead of patting its own back for securing loans like Extended Credit Facility loan from IMF and Strategic Programme on Climate Resilience from World Bank, It would be more effective and impactful if government of Nepal starts doing homework to chalk out frame work to bring in foreign investments in sectors that have traditionally funded by foreign loan. While the foreign loan increase the government debt, foreign capital flowing in reduces the burden on current account deficit of the country. Impact investments usually flow into a country through financial entities like venture capital firm, private equity or private endowments.Rules and regulation to oversee the non-banking financial entities in Nepal in still in immature stage. Nepal Rastra bank and Finance Ministry should immediately consolidate rules that will govern and incentive foreign investment in sector that have direct correlation to human development.

Health crisis in Nepal

Problem: Nepal faces health crisis: WB report


Possible Solution :Please Call Me' Builds Health Education Networks

Different ways to finance your entrepreneurial venture

1. EQUITY VS NON-EQUITY
   
2. GOVT GRANTS AND LOANS
   
3. CREDIT GUARANTEE SCHEME Click here to read more

Nepal Rastra Bank Put your act together ...

The central bank governor urged the business community and the general public to save their money in the bank account to ease up the liquidity crisis and lower the interest rates .Same day, Nepal Rastra Bank rejected the request submitted by Nabil Bank and Kumari Bank to setup and manage mutual funds.Nepal Rastra Bank decision to reject the request of the two commercial banks acts as an contradictory to governor’s request to the general public to increase deposit in the commercial banks.

• Mutual funds can attract capital from FII and remittances
  
• Mutual Fund is a perfect platform for the small investors who have capital but lack time,knowledge and skills to invest in capital market.
• Mutual funds can be a vital financial instrument/product to inject capital into the private sector...
  

8888 financial cooperatives in Nepal...

• 8888 savings and credit cooperatives catalyst for financial inclusion or unregulated loan sharks ??
• 66 coffee cooperatives....."Hello Starbucks and whole foods"..great Himalayan coffees for sale ..

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Anyone here speak NGOish?

favourite words of NGO ( GLOBALLY)

1. empowerment
2. capacity-building
3. stakeholder
4. civil society
5. facilitators
6. disadvantaged
7. British NGOs have a fondness for “focal groups”.
8. Americans like anything that leads to “inclusion”, especially of the “excluded”. (SOURCE : THE ECONOMIST ) Additional favorite WORDS of NGOs in NEPAL
9. VALUE CHAIN ANALYSIS
10. DALIT
11. REFLECTION SESSION
12. WORKSHOP
13. REQUEST FOR PROPOSAL
14. Draft Report
15. CDO (Saab),Sachib jee