Today, I shall pose and endeavour to answer the question: Is India ready for full capital account convertibility?
The global oil price shocks that occurred in the early 1980s worsened the economic performance in most African economies and led to the adoption of economic measures in the spirit of the Washington consensus. Noteworthy, is the Structural Adjustment Program (SAP) with key policy measures designed to achieve economic stabilization and enhance efficiency in resource allocation mainly through economic restructuring and macroeconomic balance.