Iirc, Indian government was on the verge of going broke in 1991, and had to initiate economic reforms which were contingent for loans from large international l

Iirc, Indian government was on the verge of going broke in 1991, and had to initiate economic reforms which were contingent for loans from large international lenders. It even had to pawn and airlift tonnes of gold bullion to IMF to get loans.