Preventing instability from occurring is better than dealing with its consequences and therefore leaning against the financial cycle should be the key objective of macro-prudential policies. Of course, this implicitly assumes that we have effective and efficient tools at our disposal. I will now turn to the issue of effectiveness. What instruments should we use to lean against imbalances?
Banks as source of borrowing stood at only 4.4%, lower than lending/financing companies (12%), cooperatives (10.5%), microfinance NGOs (9.9%) and government entities (6.1%). •  The main purpose for borrowing money is to buy food (59.5%), school related expenses (38%) and to finance emergencies (32.7%).