In the end, not every country can have a current account surplus. In a sense, we will consequently meet in the middle eventually. Moreover, the burden of the initial adjustment, though not being shared in the narrow sense of the word, is at least being alleviated. What are the rescue packages other than publicly guaranteed interim loans to facilitate the adjustment?
In the corporate debt market, investor base is mostly confined to banks, insurance companies, provident funds, PDs and pension funds. An approach of gradual opening of the domestic bond market to the foreign investors has been adopted in India keeping in view the macro-economic risks involved in providing unfettered access to them.