The 1990’s saw significant increase in global capital flows, presumably following the triumph of market capitalism, and advocacy of capital account convertibility as a policy goal, particularly for the developing countries, started gaining momentum.
3  MORTGAGE LOANS  If you allow me, I would also like to say a few words about mortgage loans. At the end of last year, household debt in Belgium stood at 63 % of Belgian gross domestic product, one of its highest levels in recent decades.