Three reports of the Reserve Bank of India (RBI), all released on June 27, address the key issue of external sector weakness and the threat it poses to macro-economic stability. The Financial Stability Report (June 2013), India’s External Debt (end-March 2013) and the Developments in India’s Balance of Payments (BoP) during the Fourth Quarter (January-March 2013) assume an even greater significance than what they normally have, as purveyors of important statistics and opinions from the central bank.......
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