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Re: Rao on the World Bank




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Postings not related to the writing of the Manifesto or policy chapters
are likely to be summarily rejected. Thanks for your understanding. IPI
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I am afraid it is not quite so simple if we are to be serious.
"Conditionality" is not really a World Bank concept but an IMF concept --
the IMF originally had to do with members borrowing from a common kitty to
tide over short-term balance of payments' problems (i.e. other than
"fundamental disequilibrium"), and in doing so they reached different levels
or "tranches", with different conditions attached.   The World Bank is a
complex multifarious institution about which generalizations of the sort
Prof. Rao proposed are not greatly significant.

Subroto Roy.

-----Original Message-----
From: Prof. R. Jagadiswara Rao <rvp_org80@hotmail.com>
To: debate@indiapolicy.org <debate@indiapolicy.org>
Date: Wednesday, January 27, 1999 08:14
Subject: Re: IMF Conditionality


>
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>Postings not related to the writing of the Manifesto or policy chapters
>are likely to be summarily rejected. Thanks for your understanding. IPI
>----------------------------------------------------------------------
>I thank Prof. Subroto Roy for enligtening me the difference between IMF
>and World Bank. I request the IPI to substitute "World Bank" wherever I
>mentioned "IMF" in my article.
>
>Thanks
>Jagadiswara Rao
>
>----Original Message Follows----
>
>Professor Jagadiswara Rao is wholly mistaken. The IMF has nothing to do
>with project-financing whatsoever but with balance of payments and
>exchange-rate problems. He may be confusing the World Bank with the IMF.
>India is one of the 12 original members of the Fund, with, if I recall
>rightly, the USA, UK, Republic of China, Canada, Australia and New
>Zealand and others I forget at the moment.
>
>Subroto Roy
>
>
>
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This is the National Debate on System Reform.       debate@indiapolicy.org
Rules, Procedures, Archives:            http://www.indiapolicy.org/debate/
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