With global finances at risk, can India avoid a repeat of the 1991 crisis?

India may have done well by keeping commercial bank lending to the government within manageable limits, but RBI has been lending more to the government, which means it has been printing more notes

The International Monetary Fund (IMF) is very worried that the huge borrowing by governments all over the world is going to have the most deleterious effects on all countries individually and collectively. 

According to a blog by Andrea Deghi, Fabio Natalucci, and Mahvash Qureshi on its website, “The average ratio of public debt to gross domestic product — a key measure of a country’s fiscal health — rose to a record 67 per cent last year in emerging market countries, according to Chapter 2 of the IMF’s April 2022 Global Financial Stability Report.”

The blog goes on to say that “Emerging-market banks