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Re: Rao on the World Bank

Postings not related to the writing of the Manifesto or policy chapters
are likely to be summarily rejected. Thanks for your understanding. IPI
I fully agree with Prof. Roy that my article "IMF Conditionality" should

be renamed as "Rao on the World Bank". I also agree with him that the
generalizations proposed by me are not greatly significant.  I am happy
that Prof. Roy has not said that I wrote trash.

----Original Message Follows----

"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

Subroto Roy.

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