Following this vein, based on the common understanding of the importance of corporate governance, we need to consider what the institutional constraints are and how to remove them in order to establish good corporate governance. 7. In order to effectively prevent large amount of NPLs from being accumulated at the commercial banks, actions shall be taken to smooth out business cycles.
Gains brought about by the government’s fiscal consolidation efforts were evident in the material reduction in the public debt burden. All in all, one could say, 2007 has been marked by an auspicious alignment of the stars – what should be going up, went up, what should go down, went down.