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Friday, October 22, 2021

September 29, 1981, Forty Years Ago: IMF loan

India’s application for $ 5 billion in SDRs will be considered by the executive body of the International Monetary Fund on November 9, the fund’s managing director Jacques de Larosiere told Finance Minister R Venkataraman.

By: Editorial |
September 29, 2021 5:47:30 am
Venkataraman told officials that he cannot disclose the conditions to the press before they are placed before Parliament.

India’s application for $ 5 billion in SDRs will be considered by the executive body of the International Monetary Fund on November 9, the fund’s managing director Jacques de Larosiere told Finance Minister R Venkataraman. The staff has more or less agreed on the terms. It is rarely that the terms agreed on by the country and managing director are altered by the board. It is assumed that whatever be the public stance of the USA and whatever the US treasury officials might be leaking to the press, in actual practice there will be no problems. Venkataraman told officials that he cannot disclose the conditions to the press before they are placed before Parliament.

Illegal arrest

Two Bihar youths arrested nine days ago for an alleged conspiracy to kill the Prime Minister Indira Gandhi were ordered released on bail by metropolitan magistrate Jaswant Singh who observed that their very arrest “appears to be illegal”. The magistrate, however, directed that the two suspects be produced before a Bihar court on September 30 in connection with a dacoity case. Delhi police brought Kameshwar Prasad Singh and Ganesh Dutt from Hajipur to the capital on September 16.

PM talks peace

Prime Minister Indira Gandhi has warned of the dangers posed by the revival of Cold War postures in India’s immediate neighbourhood. She was referring to the massive acquisition of arms by Pakistan. She regretted that in a world rich with natural resources and with significant scientific discoveries, that the vast knowledge was put to destructive purposes.

Pilot engines

A pilot engine will precede all express and mail trains half-an-hour before their departure during the night in Punjab.

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