By the time of the April 17, 2020 statement, it was clear that providing system level liquidity was not going to be enough because impediments like risk aversion among banks were standing in the way of further intermediation towards the small, the disadvantaged and the truly credit constrained.
4  BIS Review 9/2005  Despite these positive outcomes and their impact on the business community and other stakeholders, within the country as well as abroad, the incidence of poverty is still quite high and unemployment rates are worrisome. The challenge therefore for the next phase of the reform process is to accelerate growth rate and reduce poverty and unemployment.