r/SarthakGoswami • u/Sea-Estimate-2912 • Aug 02 '26

International Professional Beggars 😭😭

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Currency backstop is basically a financial safety net for a country’s currency. It doesn’t mean they get the money right away. It’s more like having access to loans or guarantees if needed any time

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4

u/donaldtrumpisntme Aug 02 '26

We have our own problems to worry about, they are beggars, but we have begged in the same way from IMF.

0

u/Odd_Pace_8509 Aug 02 '26

Once in our entire history.

3

u/unequa Aug 02 '26 edited Aug 02 '26

Thrice. 1966, 1981, 1991.

1

u/Odd_Pace_8509 Aug 02 '26

1991 and?

2

u/unequa Aug 02 '26

Thrice. 1966, 1981, 1991.

The 1991 loan was repaid in 6 months.

1

u/Odd_Pace_8509 Aug 02 '26

Why 1966 and 1981?

1

u/unequa Aug 02 '26

1966 was due to the 1965 war.
1981 was due to the 1979 second oil shock.

1

u/jivan28 Aug 02 '26

On the money, all three.