mcJj, 1 pvJj 2007

hjkdz uv ibipU uK . 4
uvm JJmLhv

Yjl箳 hjkdz uvm JJmLhv kjC pyyoj Yjldz jPJn& yBkJj Dn. n pyyoj jPJn& yBk D@kw J hjkdz uv JJmLhv ko 1999 Dbli&l jPJn& yBkJj mhJuu Dn.
hjkdz uv m JJmLhv cnCp k ? lj m i hlU JC, l i kj iblJCk kjC F. lcO mcJM nl.
 


1990-91 cOu Dbljj^dz Jhjlu Mukv iuu Ku hlU J lcU YjlJj Duu D|Lk Dj cU kj ibipUk[ hnC DL&Kl J jPJn& yBk kv youu. lhl mJ&mOjChC lv cnv Dlhjl hjm uvm DmJ SJ{ cHk G Dm.
hjbl 1997-98 mu hJ& DMF& oMbJj D{Juu D|Lk mbkcU ibipUǮ hlUcO J{ Jnu hnp pCJ mJ& mbybOlbv Pu.
moj m JJmLhv J l iblJCk kjlv kCl G jPJn& yBkJj mbybOl kbv Ju Dn ?
Dhu hjkdz uvm mj#ll J llhj GhuyO (liquidity n ov G l JJmLhv J iblJCk kjlv u#l Ilu pll. n kjlv l Ghi jPJn& yBku Dhu DO&J|<k hlOjCm nF&u nn hnu pl.
mj#ll v n ibipU cKv Dcjkv ^Pj yB[ J Dv jKbl iblJu pl. n iblJuu jkwkc llhj J kJnn cUJ (highly liquid) cnCv l Duh colm iblJu pl.
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piYjlu Jpoj (JM<l: Dcjk, Fbiub[ J jh) pj DhC hnu lj l Dhu oMlu Jph# kc Dnl n Dhu u#l F&u. ci箳 J<a jPJn& yBkm SkC j kwk Jp cUu. cnCp hjkdz uv ibipU mbYUCm Dhuu Ekcl (Cost of Reserves) cpJ uil. pilk yBkvmj Yjlu J uiCj Ekcl 1.8 kwk SJ{ Dn.
1) Yjlu m箳 iblJCkJj cUCj Jp J hjoM kp&Jj (external debt) J uiCj Jp cOu Hjk.
2) hjoM iblJCkcU [@um& c DI YjlcO l Dn. cU Yjldz h cpyl nl. (strong) hjbl l Hk Yjldz v&lojbv yml. lcU Dhu uv Sk JM c&oh# jPJn& yBku [@uj luvl Jj pT ol l vn.
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pj oMbli&l Jpoj kc Dmlu lj n cost kc nT Mkl. pj Dm sterilisation ku vn lj uvhjJ Sk c&oynj J{u J l hjCc uvJ{Jj nF&u.
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