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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (607)	5/15/1998 12:43:00 PM
From: eWhartHog	Read Replies (2) of 12475

An option for India could be to call the sanctions bluff. New multilateral loans are largely used to cover principal and interest payments on existing loans, with a little left over for new projects. If India declares it will no longer make payments on existing debt as long as any sanctions are in place, the West may be forced to beg India to take new loans. The alternative would be to show the world the IMF, World Bank, Asian Development Bank, etc. are houses of cards that must rely on ever-increasing loans to debtor nations to preserve their illusion of solvency.

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