The measurement of global liquidity and its drivers The CGFS has established a relatively broad definition of global liquidity by referring to the “ease of financing” at the level of the global financial system.3 This definition includes official liquidity and private liquidity.
This is the decision which parties have to make themselves. Otherwise, directives issued by SBP run counter to the spirit of ADR/ mediation which is necessarily a mechanism based on mutual consent of the parties.