My View on "A Modi Victory may Not be Music to Rajan’s Ears":
This refers to ‘A Modi Victory may Not be Music to Rajan’s Ears’ (ET, May 12). Let us see how Raghuram Rajan manages “surging inflows”, if that really happens. The figures of external debt and forex reserves quoted in the report do not lead one to assume a crisis. After all, the richest country has a debt of around $16 trillion, and its “reserves”, whatever the level, did not save that country from problems in recent years. No central bank can insulate itself from problems. What the world will be interested in knowing is how best the problems are tackled.
- M.G.Warrier
Published in ET
Published in ET
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