
India: The Next Economic Superpower
Economics Explained
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The Indian Government's Bail-Out Loan to the International Monetary Fund
The Indian government reached out to the International Monetary Fund for a $1.8 billion bail-out loan in 1991. India had up until this point shumbed international trade, grasping on to their protectionist policies and state-run enterprises. The International Monetary Fund agreed to loan India the money it so desperately needed, if India agreed to deregulate and open up its economy. Since the agreement with the IMF, India has gone through a bold period of embracing free enterprise.
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