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The question is why financial systems are so liable to turn foreign credit into ruinous busts.
Cheap foreign credit flooded into inexpert and inadequately supervised local banks.
Bankers have also been hurt by the drying-up of foreign credit.
"We are financing our growth entirely through foreign credit, which is becoming more expensive.
More generous jobless benefits, financed by foreign credit, will help cushion the blow.Even so, there have been wobbles.
Some firms could fall back on foreign credit: CABS borrowed $1.5m from its parent, Old Mutual Group, a big insurer.
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One of the more memorable findings was a foreign credit-line at one bank that suggested it had adequate liquidity.
Though the deficit came down somewhat in the past year and is forecast to do so again in the coming year, foreign credit-rating agencies were disappointed that Mr Chidambaram has, in his words, "pushed the pause button" on meeting the deficit-reduction targets imposed by a law passed in 2003.
To promote this expansion, there were new injections of foreign credit particularly French and new banks.
In the United States, for example, export credit insurance is written through a consortium of insurance companies organized by the Foreign Credit Insurance Association (FCIA).
He organized The Foreign Credit Insurance Association.
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CEO of Professional Science Editing for Scientists @ prosciediting.com