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Bhutan Foreign Debt
At the start of the 1980s, Bhutan's external debt was
small,
but as the decade progressed it increased significantly.
Whereas it
stood at US$2.7 million in 1984, the debt jumped to US$21
million
in 1985 and reached US$70.1 million in 1989. Although
efforts have
been made to reduce dependence on foreign aid inputs, an
increasing
amount of aid, other than that received from India, has
been in the
form of loans rather than outright grants. Whereas Bhutan
had no
foreign debt outside of India in the early 1980s, by the
mid-to-
late 1980s, loans--primarily from the World Bank and the
Asian
Development Bank--comprised 30 percent of foreign
assistance and
represented about 17 percent of its GDP.
Data as of September 1991
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