India quasi-sovereign USD bonds are ‘patchwork’ measure

13 Aug 2013

The latest measures aimed at raising funds to patch up India’s current account deficit are short-termist, and sacrifice economic fundamentals such as relative costs of funding in favour of populism.

India’s finance minister has announced a series of new measures aimed at funding the current account deficit and stabilising the rupee, but each new announcement is becoming increasingly detached from fundamentals, say commentators.

On August 12, finance minister Palaniappan Chidambaram announced several fundraising measures that he hopes will ...

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