This is an archive article published on September 23, 2021

Opinion September 23, 1981, Forty Years Ago: US On IMF Loans

In general Regan wants the IMF to be stricter about giving loans.

Appealing for communal amity in Punjab, the Prime Minister Indira Gandhi on Tuesday expressed her anguish at attempts to exploit religion for political ends.

By: Editorial

September 23, 2021 03:25 AM IST First published on: Sep 23, 2021 at 03:25 AM IST

The US Treasury Secretary Donald Regan, who favours stricter IMF conditionalities about loans, says that his country still has questions about $ 5 million SDR loan to India. In general Regan wants the IMF to be stricter about giving loans. The problems about India, he said, include continuing domestic and international deficits, failure to control the money supply and a general “inability to get their house in order.” The Reagan administration’s tough attitude towards the World Bank and other lending institutions— also stressed by Regan on Monday—has been known for a long time. It is being further developed in a detailed study, parts of which have already been leaked presumably.

Punjab Tension

Appealing for communal amity in Punjab, the Prime Minister Indira Gandhi on Tuesday expressed her anguish at attempts to exploit religion for political ends. Describing the Akali Dal charge that a clash of two personalities in the state Congress (I) was responsible for the present tension as absolutely wrong , the Prime Minister told a news conference that the need of the hour was to create a congenial atmosphere. The clash of personalities was an apparent reference to reported differences between the Union Home Minister, Zail Singh, and the State Chief Minister, Darbara Singh, something the Prime Minister denied vehemently.

Gromyko’s Charges

Soviet Foreign Minister, Andrei Gromyko, has accused “certain quarters in Western countries” of interfering in Poland’s internal affairs and trying to loosen its socialist foundations. But he told the UN General Assembly in a speech that these attempts will be futile. He also lashed out at what he termed hostile, criminal intrigues by the United States against Cuba.