The common narrative of IMF spoiling countries doesn't apply to India. The country has gotten three loans from the fund so far. The first two didn't do much. We remained a socialist mess.
The third one however, was accompanied by economic liberalisation during 1991.
Tariffs were reduced, trade was liberalised, licencing requirements and other restrictions started to be progressively removed over the coming years. The country started down the path of free market capitalism, albeit only partially.
The country has improved quite a bit since then on all quantitative measures of economic and human development.
npub1xn…43qnl
2024-05-17 05:51:35 UTC
Author Public Key
npub1xnc64f432zx7pw4n7zrvf02mh4a4p7zej3gude52e92leqmw8ntqd43qnlSeen on
wss://nostr.momPublished at
2024-05-17 05:51:35 UTCEvent JSON
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"content": "The common narrative of IMF spoiling countries doesn't apply to India. The country has gotten three loans from the fund so far. The first two didn't do much. We remained a socialist mess.\n\nThe third one however, was accompanied by economic liberalisation during 1991.\n\nTariffs were reduced, trade was liberalised, licencing requirements and other restrictions started to be progressively removed over the coming years. The country started down the path of free market capitalism, albeit only partially.\n\nThe country has improved quite a bit since then on all quantitative measures of economic and human development.",
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