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Calcutta Diary

A. M.
Economic and Political Weekly
Vol. 36, No. 37 (Sep. 15-21, 2001), pp. 3498-3499
Stable URL: http://www.jstor.org/stable/4411106
Page Count: 2
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Abstract

Climbing down from the high horse it was accustomed to ride, the IMF is now telling the poor countries that, in order to stimulate growth, they could lower lending rates; market forces may for the present be forgotten. Why, the Federal Reserve System in the US has, since beginning of the year, lowered its prime rate on as many as seven occasions. So, please do as the Americans do.

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