Sanusi Lamido Sanusi: Neither the Washington nor Beijing Consensus – developmental models to fit African realities and cultures Speech by Mr Sanusi Lamido Sanusi, Governor of the Central Bank of Nigeria, at the Eirenicon Africa Public Lecture Series (EAPLS), held at The Royal School of Medicine, London, 27 March 2012.
1 What essentially had happened is that banks, emerging painfully from a liquidity crisis, had started to deleverage actively in an attempt to structurally reduce liquidity needs by shedding excess exposures. The deleveraging was an additional downside force contributing to the slump. In this situation, a central banker is again torn between two priorities.