Business Standard

A CALL FOR CHANGE

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■ The willingnes­s of central banks to flush money into the global economy to limit downturns means other lenders, aside from the IMF, have enough surplus cash on hand to lend to strapped nations

■ Long-held beliefs like the single-minded focus on how much an economy grows, without regard to problems like inequality and environmen­tal damage, are widely considered outdated

■ The preferred cocktail for helping debtridden nations — austerity, privatisat­ion of government services and deregulati­on — has lost favour in many circles as punitive and often counterpro­ductive

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