Views of a Nepali Economist

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Union leads to closure of Fire and Ice restaurant

Asian Development Bank projects four per cent growth in 2012 for Nepal Nepal slips eight positions down in the Economic Freedom rankings

Nepal has slipped eight position down to be ranked at 129th among the 141 economies with a score of 5.50 in this year’s Economic Freedom of the World report released here today. Last year, Nepal was at 121st rank with a score of 5.54.

World Development Report 2012: Gender Equality and Development shows that closing gender gap boosts growth

“Countries that create better opportunities and conditions for women and girls can raise productivity, improve outcomes for children, make institutions more representative, and advance development prospects for all,” it said, adding that in Nepal as many as 14 per cent married women are largely silent on how their earned money is spent. “But they are more actively involved in the decision making recently,” according the World Bank that revealed that women’s greater public voice not only benefits women and children but also men. “Giving women bigger say in managing forests in Nepal has significantly improved conservation outcomes too,” it added. “The disparities between boys and girls in primary education have almost closed over the past 25 years, and at the secondary level, the gaps are shrinking rapidly,” it said, lauding Nepal’s efforts in closing the gender gap.

National Information Technology Centre to be established in Hetauda

The Centre’s building will be constricted at the estimated cost of Rs. 300 million with the grant assistance of the Korean government

India set to overtake Japan as world's third largest economy

India is now the fourth-largest economy behind the US, China and Japan. Last year, Japanese economy was worth $4.31 trillion, while India´s was at $4.06 trillion. But after the devastating tsunami and earthquakes in March, Japan´s economy is expected to contract while India´s economy will grow between 7-8 percent this fiscal year.

Earlier, a report by PwC suggested that the Indian economy would surpass the Japanese economy in 2012. The IMF expects the Japanese economy to contract 0.7 percent this year while India is expected to grow 8.2 percent.

BFIs told to insure deposits up to Rs 500,000

Banks and financial institutions (BFIs) that were required to compulsorily insure deposits up to Rs 200,000 will now need to insure all deposits up to half a million rupees.

Labels: banks, central bank of nepal, china, gender inequality, India, IT, Japan, labor unions

Sushil Koirala finally gets to meet Sonia Gandhi---Telegraph Nepal


India feels its friendship with Nepal straining due to Nepal's silence on Mumbai blasts---MSN India
They claim that if Girija Prasad Koirala were alive, he would have called and expressed his sorrows within minutes of the news of the blasts. My take on this news is that India(ns) are overreacting. Nepalese lawmakers are busy squabbling with one another during the budget announcement time. So, maybe they could not "immediately" and "within minutes" send their condolences. But, they sent it after a few hours. If only India(ns) were this sensitive about other issues, as well, both the neighbors would be so much better off. Are we really good friends? Okay, then. Let us sit down and talk about our borders. Let us talk about re-writing the old treaties that were heavily favored against us. Let us sit down and talk about various dams and power projects. Calling oneself a good friend and expecting condolences is one thing. Proving your duties as a good friend is another. Let us stop whining, shall we?

Nepal signs a pact with World Bank for 1000 MW cross-border electricity share with India---MSN India
 I very much doubt that this will be in favor of Nepal.

China very eager to spend in Nepalese hydropower---Hydro World 
We could do with more work and less talk. Also, China actually seems to put the money where its mouth is. So, if this works, it's going to be great.

Nepal attracting Indian investments in Tourism and IT---Orissa Diary
I do think Nepal has a good pool of engineers for making Nepal a decent hub of IT activities. Tourism sector needs something more than investment. It needs professionalism, which it severely lacks today. 

Ram Sharan Mahat blames communists in Nepal for squandering money---Himalayan Times
This reminds me of an anecdote. When the Maoists won the majority in the Nepalese elections, my American friends came to me and paid their condolences. "Mukesh, we're very sorry to hear that the communists, especially the Maoists, won the elections in your country." they said to me. I laughed. I said to them, "Guys, you think you are Capitalists? You haven't seen Capitalists if you haven't seen the communists in my country. Communists in Nepal are more capitalist than Capitalists in America."


Nepal Rastra Bank eases its loan policy---Republica
The mergers. The defaults. The easing of loans. The easing of loan policies. I'm just waiting to see how many more tricks the NRB has in total.


Finally, since I love Mathematics, I really like the comic strip below (Source: Saturday Morning Breakfast Cereal):

Labels: central bank of nepal, communists, hydroppower, IT, Nepalese Economy, tourism