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

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The Left in Portugal

take care of the incremental world demand for oil Iran has already threatened that it wants the oil price to be raised by about 35 per cent after September. It is reported that Saudi Arabia is favourably disposed towards such a move. Such a step would push up the balance of payments surplus of OPEC countries to about $ 75-80 billion from its current level of around $ 45-50 billion during 1074. Will the world monetary system, be able to bear such a huge burden and still remain in reasonable working condition? As for India, this would straightaway mean an additional payments burden of about Rs 400 cm- res annually at the current level of imports. Can India bear this additional burden?

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