Significant progress has been made on financial sector reform and fiscal consolidation, with sometimes too much of the latter, but much less has been accomplished on structural reform and global rebalancing. Had it not been for the support provided by exceptional monetary stimulus, the outcome would have been much worse, somewhere between the bad and the ugly scenarios. However, this situation cannot be sustained.
When all three types of expenditures are taken together we get a complete picture of the expenditures on inputs used for achieving MDGs.