Policy reform provided shelter from global storm: IMF paper
Central banks from Brazil, Chile, Colombia, Mexico and Peru reaped the benefits of what they sowed in successfully weathering the global crisis, research published by the IMF in December posits.
The adoption of institutional, policy, and operational reforms during the past two decades enabled central banks to build credibility about their commitment with the objective of price stability, the paper says.
Further, the central banks reacted swiftly and effectively based on a flexible policy
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