A related idea is that global economic slack is becoming more important for domestic inflation, and domestic slack less so. Since the global economy has become more integrated, excess global supply might hold down inflation, particularly of some goods, regardless of the supply3/6  BIS central bankers' speeches  demand balance in any individual economy.
The IMF redesigned its lending framework with the introduction of a “Flexible Credit Line” for countries with a sustainable strong economy and enhanced “Stand-by Arrangements” that are more widely accessible. Let me now suggest some criteria to evaluate the alternatives that I have just mentioned. These criteria include effectiveness, costs, efficiency and moral hazard.