Management of Economy and IMF Conditionalities

The conditions imposed by the IMF on the government of India, especially those set out in paragraphs 28 to 33 of the Memorandum of Understanding with the IMF laid before parliament by the finance minister, go far beyond those normally imposed by the IMF for an 'upper tranche' stand-by credit. Adherence to these conditions will drag the country deeper into the morass of dependence on external support.