The countries in three continents after
Six weeks ago, when prime minister Narendra Modi announced his government�s decision to demonetise Rs500 and Rs1,000 notes, it wasn�t just Indians who were taken aback. World leaders, economists, and international organisations watched the bold experiment with a mix of wonder and worry. Would it work as a means to crack down on unaccounted cash and counterfeit currency in foreign companies subsidiary? So far, Modi�s move has left millions scrambling for cash, hitting consumption and thereby threatening GDP growth in India. Nonetheless, it now appears Modi�s move was just the first of a handful of such year-end demonetisation exercises around the world
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