This refers to Subir Gokarn's column "Capital flow conundrums" (Muddy Waters, March 25). The article was excellent and comprehensive; however, there was one important omission. The author did not mention the role of an international credit line as a safeguard against sudden outflow of capital from an economy. Such a credit line is an option - not an obligation - to borrow internationally in the event of a crisis when the usual credit market tends to dry up.........
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