Later, U.S. dollar liquidity facilities, which had been established by the U.S. Federal Reserve and other central banks of advanced economies, were expanded in order to include emerging economies, such as Mexico, Brazil, Korea and Singapore. In Europe, injections of capital into the banking system in various countries were agreed upon, as well as the commitment to jointly confront the crisis.
Steady continuous high foreign exchange inflows; fiscal discipline; balance of payments and fiscal surpluses; enabled the Bank of Papua New Guinea to pursue a stable exchange rate; which has led to low inflation and allowed for a reduction in domestic interest rates.