Opinion - Letters to the Editor   

External debt

Sir, — This refers to the editorial, `Manageable external debt' (Feb. 21). The intricacies of our external debt vis-à-vis foreign exchange reserves and the leverage we have as far as per capita debt and the debt service coverage ratio are concerned were well explained. As one who has been closely following the way the rupee has been nurtured by our regulators — the Reserve Bank and the Finance Ministry — I am elated at the excellent job done. If the rupee maintained its stability during the East Asian currency crisis of the 1990s, it was because of the measures taken by the RBI.

Tharcius S. Fernando,
Chennai

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