But, now we can say that such free fall was left behind and that policymakers around the world, have been up to the occasion, being able to avoid the abyss and instead overcome a period that will probably be inscribed in history as a great recession. Of course, this does not mean there is room for complacency.
On the contrary, great challenges that need full attention still remain ahead of us; not only for policymakers but also for the entire profession. In South America we got around the challenges trying to preserve most of the basic equilibriums achieved in the external and fiscal fronts.