| Username |
Post |
| SIWALIK |
Posted
on 24-Dec-01 04:28 PM
Argentina just defaulted on its $132 debt. It is disturbing considering the fact that it was one of the richest nations at the beginning of the 20th century. The prospect for Argentina looks bleak. What about Nepal? Does anyone know what the debt burden of Nepal is? How much of our budget is used to service the debt?
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| nepali |
Posted
on 24-Dec-01 07:09 PM
$132.00? I can help Argentina with that kind of money!
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| SM Sainju |
Posted
on 24-Dec-01 08:46 PM
To the best of my knowledge, Nepal owes about a bil (75 Arab) (US D) in foreign debt. I recently read this in an article but forgot the source.
SM
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| ashu |
Posted
on 24-Dec-01 10:37 PM
Hi Sambhu,
Welcome to GBNC.org!!
I am happy to see you here.
As a visitor, I look forward to your active participation here.
I know I owe you a big email, but let's meet face-to-face in January and do guff-suff over steaming momos and chiya.
oohi
ashu
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| SM Sainju |
Posted
on 25-Dec-01 01:20 AM
good to hear from you ashu... yes you do owe me an email. Look forward to seeing you in KTM shortly.
SM Sainju
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| 93454475 |
Posted
on 25-Dec-01 09:36 PM
The debt is ever-increasing and we still have not seen any progress. And now with increasing Military Expense and Diminishing Tourism and Pashmina Industry (last years 1st and 3rd income source), Nepal could easily be at default. Since Nepal is such a poor country-- we might be in a better situation than Argentina. We have nothing, thus nothing to loose.
But currency devaluation and huge inflation could hit our markets. I recommend not to hold cash- rather hold your wealth in Gold or foreign currency, the latter might be illegal.
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