The experience of recent months has shown that governments tend to take unpopular decisions only under pressure from the markets. Action by the central bank that would eliminate such pressures would risk becoming counterproductive and creating moral hazard.
Developing the individual or human capacity is an integral element of building capacity and, in fact, capacity building initiatives are now increasingly becoming almost an index of institutional quality. Capacity building would in the days to come not only influence the structure of institutions, it would also determine how they are run.