So on the bright side, the data’s looking more solid, but on the downside it’s giving ammunition to the hawks.
External debt burden has been reduced in absolute terms from $ to $ billion and as a proportion of GDP from 62.5% to 46%. The risk of default on external debt, which loomed large on the horizon in 1999 and 2000, was mitigated and the country's capacity to service its restructured debt has considerably improved.