The Naira/US dollar exchange rate has remained stable (with steady appreciation of Naira against the dollar) since 2004, and the GDP has maintained a robust growth rate of over 6% per annum since 2003. III:  Matters arising and challenges ahead  Despite progress on a number of fronts, there are still enormous challenges and unfinished business.
This is all the more important as shocks to cross-border capital flows, such as sudden stops in capital movements, have proven to be persistent rather than short-lived. More analytical reflection on what has made such shocks persistent, and how this can be addressed at a deeper structural level would therefore be welcome.