The external sustainability (ES) approach aims at calculating the difference between the actual CAD position and the balance that could stabilize the NFA position of the country at some benchmark level. 39. What if these three alternative estimates throw up different results? Take, for example, the IMF’s different estimates for India.
The presentations at conferences such as this one may serve as background material for policy making and strategic planning, and they may suggest to us topics to be added to our agenda for further study. On some topics we will be reporting on recent developments, while on others we will be sharing thoughts and ideas that are yet in the process of development.