1 To some extent, we are experiencing the inevitable correction of a period of unbalanced growth. These are the famous global imbalances, which are characterized by excess savings and underconsumption in major emerging markets, and by negative savings, rapid credit expansion and asset-price booms in many western economies. This correction has not been pretty.
We continue to encourage others to follow suit. This one-day workshop on Digital Payments will cover the economic and social benefits of electronic payments, as well as strategic considerations in developing an effective payment system that will facilitate the growth of electronic payments in a country.