INDIA: Billion-Dollar Troubles

Washington was host this week to a vitally important meeting of creditors. Delegates from the U.S., Britain, West Germany, Canada and Japan gathered in a high-ceilinged conference room at World Bank headquarters to decide what they could do about Debtor India. It was a billion-dollar question.

In New Delhi, India's Finance Minister Morarji Desai warned Parliament of the widening gap in foreign exchange, said the government may have to ''mobilize" all the nation's gold—from women's jewelry to hoarded bullion. India needs some $300 million additional credit this year, $500 million next year,...

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