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

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Maharashtra-The Pawar Factor

Secondary Role THE number of upper credit tranche standby and extended arrangements with the IMF at the end of 1985-86 were the lowest in the past six years, being only 26. The highest number, 39, had been reached in 1982-83. The IMF's Annual Report explains the decline as in part reflecting "the adjustment of the current account deficits of some countries to the available financing". The adjustment the Fund has in mind in this context is clearly none other than the drastic curtailment of imports forced upon the developing countries, with the virtual closing down of their access to the major sources of international financing, including the IMF itself. Developing countries in all regions, except Asia, are importing less today than in 1982.

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