Sunday, May 15, 2011

RE: FW: Hydrocratic dreams

May 16, 2011
Tore Skeie
Kathmandu University

Dear Tore

Good to hear from you.

I now realize that NT did so deliberately. My article was set to be published last week itself. However, they delayed it by a week just to include this interview.

I am glad that they decided as such. Because this proves how hollow the argument of his ilk is. Failing to contradict the points I was driving, the only different point he futilely makes is that Nepal gains from the infusion of convertible foreign currency when Nepal receives foreign direct investment. In my article I didn’t touch on this issue. The gain from the infusion of convertible foreign exchange from FDI is also only apparent because over 99% of such foreign exchange gets used up in the imports (of construction materials, electromechanical equipment, expat salaries, etc.) during implementation of the project itself and Nepal’s gain in the foreign exchange reserve is by about 1% only.

With best regards,


Ratna Sansar Shrestha, FCA
Senior Water Resource Analyst

From: Tore Skeie []
Sent: Saturday, May 14, 2011 17:54
To: Ratna Sansar Shrestha
Subject: Re: FW: Hydrocratic dreams

Thank you, Ratna ji. I read your article in Nepali Times. Gyanendra Lal was interviewed at the same page!!!
Tore S

2011/5/14 Ratna Sansar Shrestha

Using hydro-dollars to mitigate our trade deficit is a mirage

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