India
"You've heard about so-called 'helicopter drops' of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner," Paul A Cashin, Assistant Director in the IMF's Asia and Pacific Department, and mission chief of India, told
Updated : Feb 24, 2017, 02:51 PM IST
India's demonetisation led to huge cash shortages that have "adversely affected" consumption and like a "vacuum cleaner" it sucked in cash and then was slowly replacing the currency, a senior IMF official has said.
"You've heard about so-called 'helicopter drops' of money with unconventional monetary policies, so one way to characterise this demonetisation initiative is as a vacuum cleaner," Paul A Cashin, Assistant Director in the IMF's Asia and Pacific Department, and mission chief of India, told
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