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Thursday, October 21, 2021

October 6, 1981, Forty Years Ago: IMF loan

Economic Affairs Secretary R N Malhotra is optimistic that India’s application for a $ 5.7 billion loan from the International Monetary Fund (IMF) will go through.

By: Editorial |
October 6, 2021 5:22:48 am
Malhotra, who returned to New Delhi from Washington after attending the joint annual meetings of the World Bank and the IMF, also denied that India was asked to scale down the quantum of loan it was seeking.

Economic Affairs Secretary R N Malhotra is optimistic that India’s application for a $ 5.7 billion loan from the International Monetary Fund (IMF) will go through. He bases this optimism on two factors: The negotiations have been completed to the satisfaction of India as well as the IMF management. Secondly, the US officials have told India that the Reagan administration has not prejudged the loan request. Malhotra, who returned to New Delhi from Washington after attending the joint annual meetings of the World Bank and the IMF, also denied that India was asked to scale down the quantum of loan it was seeking.

Punjab strategy

The Union government is understood to have provided guidelines to the Punjab government on the action to be taken against the protagonists of Khalistan. The guidelines have been issued after a series of meetings. At the administrative level, Cabinet Secretary Krishnaswami Rao Saheb, and the Home Secretary, T N Chaturvedi, have been holding discussions with the intelligence and other agencies concerned. At the political level, Rajiv Gandhi, Home Minister Zail Singh and Commerce Minister Pranab Mukherjee have been holding discussions with various people to formulate a strategy to check extremist activities. The problem in Punjab is intensifying, according to reports, because along with extremist sections of the Akalis, the Naxalites have also become active in the state.

Namibia independence

Commonwealth leaders on Monday resolved that Namibia should be granted full independence before the end of 1982. This time-frame was decided following a four-hour discussion held in Melbourne on Southern Africa with the arrival of the Nigerian President, A S Shagari, to the city.

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