debt

Yesterday, the Finance Minister reported that Bhutan’s total debt outstanding is Nu 35,109.3 million. That’s about 56.7% of our GDP. In other words, every citizen owes Nu 64,000 of that debt. Or, assuming the average family has five members, every family would owe Nu 320,000. The good news is that most of that debt – about 61 per cent – consists of hydropower construction loans. These loans, we are told, will pay for themselves, and generate huge revenues for the government. Good. But, let’s not completely ignore the risks. An overdependence on one source of revenue – in this…