Tightening constraints to inclusive development

The current economic discussion focuses on managing the ongoing stresses on our external finances and an almost desperate search to revive economic growth from its meagre five per cent annual rate. As I wrote recently, neither of these is going to be easy ("BoP: Zero Dark Thirteen?", March 14, and "Early exit from economic stress?", May 9). Today, let us lift our gaze beyond these short-run exigencies and assess the prospects for reverting to a high (and inclusive) growth trajectory in the medium term.

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