Celebrating two heroes of Nepal

Article Abstract:

Sir Edmund Hillary, who shares credit with Tenzing Norgay Sherpa for the first ascent of Mount Everest on May 29, 1953, was honored for that deed and for his work in behalf of the Sherpas at a celebration in Kathmandu, Nepal on May 29, 1993, the 40th anniversary of Hillary's feat. Hillary has helped to build schools, medical clinics and bridges and to obtain drinking water for the Sherpas. Passang Lhamu Sherpa became the first Nepali woman to ascend Everest on Apr 22 in another commemoration of Hillary's climb. Sadly, she and another climber may have died while descending.

Social aspects, Appreciation, Biography, Sherpas, Hillary, Edmund

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The other face of Nepal

Article Abstract:

Nepal's drive at economic liberalization has created a favorable climate for foreign investment. The government has introduced reforms such as reduction of bureaucratic procedures, privatization and diversion of excess funds in the economy to export-oriented industries and other productive activities. These policies have resulted in increased aid to Nepal from donors such as the World Bank and the IMF. Nepal's relative political stability has also made it attractive to foreign investors.

Foreign investments

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Step to freedom: Nepal moves toward convertible rupee

Article Abstract:

Nepal has announced intentions of fully converting the Nepalese rupee. The move will mean a revaluing of the currency against its Indian counterpart. The decision, which covers current account transactions, was announced by the Koirala administration on Feb 12, 1993. Traders view Nepal's decision to allow full convertibility as a financial precaution against a similar move to be announced by India. Nepal's foreign trade is heavily dependent on India.

Analysis, Convertible money

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