My take from the Colombian experience is that, as a regime, the inflation targeting framework with financial stability complements has fared well and done the best possible job of withstanding the storm. This was mostly due to the fact that the financial stability measures taken before the crisis, when the economy was booming, enabled us to avoid large mismatches and to moderate leverage.
The results were: -  10  The financial system was strong enough to absorb a large external shock and policy makers could focus on dealing with its macroeconomic consequences. BIS Review 102/2009  -  The regime was flexible enough to accommodate a gradual path of disinflation under a preannounced path after the relative price shocks pushed inflation far above target.