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

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Rigour, to What End

an environment, the author's suggestion that the IMF and IBRD can play a vital role by counselling for better economic management and giving the financial community greater information on borrowers is undoubtedly necessary but they cannot (not because it is bad) provide or act as the major providers of development finance for the reasons alluded to earlier. Developing countries will have to start by managing their economies better, restrict wasteful government expenditure (India is not able to Utilise its full quota of approved World Bank credits), cut revenue deficits and think of innovative ways to raise external capital. Increasingly, the issue will shift not so much to the type or the source of external capital, as much as, to its availability.

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