Bhutan Faces Dollar Crunch

JYT Dollar

Bhutan Faces Dollar Crunch!!!…, says The Tibetan, an investigative journalism paper with reporter 10 Zing Good Path.

Reporter Good Path has learnt from papers he smuggled out of the central bank, RMA that Bhutan is in a serious foreign currency crisis. Having sold $200 million recently to fund the government’s lavish spending on re-election projects by various MPs, the RMA had hoped to save every penny of the remaining $600 million. This money was to back up the falling value of the Ngultrum and to overcome Rupee debts maturing next year.

However, the GNH junkets of the PM continue to haunt the RMA. On learning of the Rupee crisis, instead of curtailing foreign visits, the PM diverted his India visits to the smaller “cheaper” places like Orissa, Bihar, etc. Druk Air chartered and five star hotels with DSA and gifts and holding of conferences and official dinners and the like, the bills are believed to be astronomical. Enough to run a ministry in Bhutan for five years it was learnt.

Now the dollar…, our good PM decided if there was a Rupee shortage then his “Happiness is the new Economy” tour should move to the west even more than before. There are 2 ambassadors in New York (one to sit in office and do the laundry, the other to run around arranging Happiness concert venues and ticket sales), an office and staff plus the secretaries from foreign and communications, ambassador from Geneva, PM’s niece Doma Tshering, various directors and half a dozen officers. Not to mention the ADCs, attendants and media reps to convey great success to local audience in Bhutan. Then there is Dago Tshering, former minister and Special Envoy of the PM moving around Asia and Europe and rendezvousing with the PM soon. That’s a few million dollars in a week alone, says the RMA. And we should account for the PM having been in New York two weeks. Then also Japan repeatedly, Korea, Brazil, USA repeatedly, Sri Lanka, Thailand, Australia, countries in Europe, Timbuktoo and Mars (with whom we recently signed diplomatic relations).

Add a few government trips made especially to introduce his son and son-in-law to business tycoons in these countries (even Mars, just in case there is some mining business there), and the figure runs into the tens of millions says the RMA.

Good Path said he told RMA that while the PM’s spending on travel was high, RMA should still have enough dollars in the bank. The RMA explained that the embassies were working round the clock and travelling a lot to promote the Happiness Tour of the PM. MoFA, GNH Commission and MoIC officials were also deputed to travel the world to spread the Happiness word. Plus, the entire government was also printing report after report, sometimes just adding a new introduction to old government publications, and dedicating to Happiness. BBS was mandated to do as many Happiness videos as possible. Every government document, speech, article or advertisement was lengthened by a page to input Happiness. The world and Bhutan must be made to know that before the PM and DPT arrived, Happiness didn’t exist.

Finally, RMA said, in order to compensate for never being home, the PM and Cabinet as dutiful parents have decided to hand out money to the people. So whatever money is left is being used to build un-usable airports, un-usable farm roads, un-used BHUs, powerless power lines, empty rural schools, fund empty rhetoric such as Sherig Century and the likes of McKinsey.

The RMA said it is in dire straits wondering how to fund the expenditures. The government has simply asked it to borrow. “The US is a net borrower, mena,” is the PM’s mantra. The RMA said it cannot convince the PM that Bhutan is not the US. The world is not using the Ngultrum.

What did the Minister Wangdi Norbu say to RMA asked Good Path. “He’s smoking himself into a hoarse throated silence,” said the RMA. “On purpose, that [email protected]#$%^&, to avoid standing up to his PM.”

10 Zing Goodpath
This story from 10 Zing Goodpath

10 Zing Goodpath is our ace sleuth reporter. Feared by all, this former freedom fighter, and now crime fighter writes for our weekly column “The Tibetan”.


  1. Get No Happiness says:

    very true.. PM and his associates are chor, gunda.

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