KATHMANDU www.blogmary.com , April 3 (Xinhua) -- Concluding that Nepal has one of the poorest infrastructure services in South Asia, a new report released by World Bank (WB) on Thursday said the country needs to double its expenditure to enhance infrastructure for meeting South Asian Development Goals (SADGs).
A report entitled Reducing Poverty by Closing South Asia's Infrastructure Gap revealed that the poor Himalayan country needs to invest 13-18 billion U.S. dollars from 2011-2020 so as to bridge the investment gap in infrastructure sector and thereby to reduce poverty.
As per the report, Nepal needs to invest from 6.6 percent to 9. 9 percent of its total gross domestic product (GDP) in transportation, energy under armour outlet online , telecommunication, irrigation, sanitation and drinking water, among others under armour outlet sale , every year from 2011-2020.
The Nepal government has allotted a total of 904 million U.S. dollars for developing infrastructures for the current fiscal year, just 5 percent of its total GDP.
The report, first analysis of the South Asia region's infrastructure needs by the WB stated that infrastructure has remained biggest challenge towards alleviating poverty in Nepal.
According to the report, Nepal needs highest investment in electricity under armour outlet store , followed by the transportation sector. "The country requires as much as 5.3-7 billion U.S. dollars for electricity and 3.7-5.5 billion U.S. dollars for transportation," the report said.
The WB's report shed light on the importance of the investment in electricity and transportation at a time when majority of Nepalis have highly suffered due to the lack of these two components which are also called to be fundamental ones for achieving development in any country.
The report also recommended that the Nepal government should collaborate with private sector for injecting investment in infrastructure development.
The report also claimed that the South Asia region has been lagging behind due to the poor investment in infrastructure.
"South Asia needs to spend as much as 2.5 trillion U.S. dollars on infrastructure by 2020 to bring its power grids, roads and water supplies up to the standard needed to serve its growing population," the report adds.
"Despite recent rapid growth and poverty reduction under armour outlet , the South Asia region continues to suffer from a combination of insufficient growth, slow urbanization and huge infrastructure gaps that together could jeopardize future progress," Luis Andres, co- author of the report and lead economist for Sustainable Development of South Asia Region in WB said Cheap Mens Stephen Curry Three Dub Nation , "it is essential to make closing its huge infrastructure gap a priority."
WASHINGTON, April 15 (Xinhua) -- The U.S. Treasury Department said on Tuesday that China cannot be ruled as a currency manipulator, but said the pace of RMB's appreciation has been insufficient.
"China's currency (RMB) appreciated on a trade-weighted basis in 2013 but not as fast or by as much as is needed," the U.S. Treasury said in the latest semi-annual Report to Congress on International Economic and Exchange Rate Policies.
Meanwhile Mens Stephen Curry Three Mid Black Online , it noted "the recent widening of the trading band gives China the opportunity to reduce intervention and allow the market to play a greater role in determining the exchange rate."
According to the report, the RMB appreciated by 2.9 percent against the U.S. dollar in 2013, and China's current account surplus declined to 2.1 percent of gross domestic product (GDP) in 2013, down from 2.3 percent of GDP in 2012 and from a peak of over 10 percent in 2007.
The report also noted that China's leadership has expressed "a strong desire" for exchange rate reform Cheap Mens Stephen Curry Two Father to Son , and the Third Plenum decision document underlines the goal to "perfect the market-based renminbi exchange rate formation mechanism."
However, the U.S. Treasury voiced concerns over recent volatility of RMB value, saying "the RMB's recent depreciation underlines the importance of a significant increase in the transparency of China's actions in the foreign exchange market."
The Treasury said it will continue to carefully monitor China's exchange rate regime and the path of China's currency and will press for further policy changes.
Yi Gang, deputy governor of the People's Bank of China Mens Stephen Curry Two Dub Nation Retail Price , said last week in Washington that the recent depreciation in the value of Chinese currency is within "normal" range and China is still on track toward a more market-oriented exchange rate regime.
He said he expected yuan's flexibility to increase in the future with two-way fluctuation instead of one way appreciation.
"I believe that, as time passes by, people will see clearly and better that the entire exchange rate regime mechanism in China is moving toward a market-oriented way," he added.
The U.S. Omnibus Trade and Competitiveness Act of 1988 requires the Treasury to provide reports on whether its major trading partners manipulate the rate of exchange between their currency and the United States dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade.
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