The experience in a number of countries, for example, warned against a policy of excessive short-term borrowing by governments and by countries to finance chronic fiscal or balance of payments deficits. Credibility comes from monetary policies aimed at achieving price stability.
Macro-economic policies that are judged by investors to be responsible are those that allow free markets to work with undue intervention from governmental authorities. *  The international exchange rate regime of floating exchange rates and its contribution to the increasing volatility of the global financial markets has come under the spotlight.