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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	7/23/2003 2:52:35 PM
From: RealMuLan	Read Replies (1) of 74559

India urged to reduce high debt burden By Edward Luce and Ray Marcelo in New Delhi Published: July 21 2003 5:00 \| Last Updated: July 21 2003 11:28 India will be unable to emulate neighbouring China's higher economic growth rates unless it reduces its high and growing public debt burden, according to Kenneth Rogoff, head of research at the International Monetary Fund. India's public debt ratio is estimated at between 80 and 90 per cent of gross domestic product, depending on whether government guarantees are included. Fuelled by India's high fiscal deficit, which is expected to be about 10 per cent of GDP this year, the impact of this expanding public debt could reduce India's annual economic growth rate to below 5 per cent, Mr Rogoff said in an interview ... "If India continues on this trajectory, it will definitely impact on its growth," said Mr Rogoff. "If you don't address it now, you could find yourself in a situation where debt is 130 per cent or 140 per cent of GDP and it is much more difficult to pursue reforms." news.ft.com

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