Bhutan: 2011 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Bhutan
June 2, 2011
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Bhutan’s rapid growth has been underpinned by hydropower sector development with donor support. However, fiscal policy should be tightened to address overheating, and spending and revenue reforms are needed to bolster the fiscal framework. Executive Directors suggested to adopt multiyear rolling budget to ensure debt sustainability. They assessed the need to strengthen the Royal Monetary Authority (RMA's) power to safeguard financial stability. They welcomed the comprehensive strategy embedded in the Economic Development Policy (EDP) that identifies activities that have strong job-generating potential and also promote foreign direct investment and private sector development.
Subject: Credit, External debt, Fiscal policy, Money, Public debt, Revenue administration
Keywords: Bhutan, Bhutan's development experience, Bhutanese authorities, CR, Credit, debt, debt sustainability risk, deficit, Global, hydropower sector, inflation development, ISCR, near-term outlook, South Asia
Pages:
62
Volume:
2011
DOI:
Issue:
123
Series:
Country Report No. 2011/123
Stock No:
1BTNEA2011001
ISBN:
9781455288663
ISSN:
1934-7685
