| $4.63 Billion Foreign Debt and Japan's Little Gesture
Okay, Japan displays some magnanimity by cancelling that 23.91 million U.S. dollars debt. Although not a big sum, symbolism matters these days for the Kathmandu's shaky alliance, tormented constantly by economic decline and people-protests. If that symbolism could extend to a larger chunk of cash and to a greater assemblage of donors-- including Denmark, the Netherlands, USA, etc.-- Nepalis could truly experience some sense of relief. Foreign debt has crossed USD 4.63 billion. According to Gehendranath Adhikari, auditor general, "every Nepali has a foreign debt of 13,000 Nepali rupees (185. 71 dollars) on his/her head." That is a massive burden for an individual in a country whose per capita income is a meagre 210 dollars.
• Japan Likely To Accept Nepal's Aid Proposal, Himalayan Times
• Economic Diplomacy: A private sector perspective, Nepalnews
• Nepal donors resume peace and aid talks, Hindustan Times
• Japan cancels Nepal debt, People's Daily Online
• Japan gives US$ 8.1M grant, Gorkhapatra
• Aid in developing Nepal, Himalmag
• Foreign aid, Nepal, All refer