Shabda Gyawali's Blog

"You might recall that the finance minister of Nepal announced in the annual budget in July 2009 that the government would issue a diaspora bond to raise funds for infrastructure development. Indeed Nepal Rastra Bank followed through in June 2010 by floating a “Foreign Employment Bond”. Although the initial goal was to issue Rs. 7 billion (about $100 million), Rs. 1 billion was floated in the first round. Nepali workers in Qatar, Saudi Arabia, UAE, and Malaysia could buy the bond from one of seven licensed money transfer operators in denominations of Rs. 5,000 (about $65)." CLICK HERE FOR KEEP ON READING

Nation is ill politically and economically .To diagnose and provide remedies for its political illness 601 constitution assembly members have been working hard or at least pretending to do so ,but to treat the nation’s economic malady little or no efforts is being made . Now when the economic condition in of the country is rapidly detiorating and the nation has been admitted into intensive care unit, Nepal Rastra bank and Ministry of Finance, agencies in charge to look after the economic health of the nation is prescribing ineffective solution. The main reason for the falling health of Nepal is the ballooning balance of payment (BOP) deficit. To lessen the pain cause by the bop deficit treatment like introduction of diaspora bond has been introduce. Despite having a good intention of dispora bond to first negate negatively bop and then contribute to the nation infrastructural development , the urgency of crisis suggest this is not the right solution . The ...