There is one mention of fiscal revenues as a comparator for the size of banks’ external assets; one comment on capital flow measures generating fiscal revenue; and one reference to fiscal policy as an incentive, among others, for locals to borrow in foreign exchange.
Even so, policymakers will be better positioned to cope with shocks, both internal and external, if they continue to strengthen these economic fundamentals. 4  BIS central bankers’ speeches  Monetary policy in developing countries As mentioned earlier, the Federal Reserve has operated under a dual mandate of price stability and maximum employment, which has worked well for the U.S. economy.