However, as shown in chart 4, although EME currencies bounced back from their lows during the global financial crisis – when global investors fled from assets they perceived to be risky – for many EMEs real exchange rates have moved sideways or have even declined over the past two years.
Our journey with the EU Global Facility will be sustained in the long term for further building resilience across our sectors on AML/CFT matters. One such forthcoming project with the EU Global Facility covers correspondent banking. I look forward to yet another successful project together.