ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-


euphoria to a state of trance over the foreign exchange reserves which arc about to touch $ 15 billion, one is reminded of a nugget of wisdom contained in the IMF's latest World Economic Outlook (October 1993). After discussing the success of the Indian adjustment programme so far, the IMF had the following advice to offer: "A critical lesson from the experience of the developing countries is the need for high rates of domestic saving

Dear reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here


(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top