The measures taken in respect of the external sector have clearly been very successful. Merchandise exports have increased from 6 to 13 per cent of GDP between 1990-91 and 2005-06; imports have also increased from 10 to 24 per cent of GDP over the same period; foreign exchange reserves increased from $ 1.5 billion to $ 165 billion.
Other issue that needs to be addressed is related with our decision to end the IMF program by the end of 2003. The real issues is not to continue or to stop the IMF program, but more on how we can cover the potential financial gap and credibility gap that might be stemmed from the decision.