We are happy to see that the achieved price stability and the relative stability of the exchange rate have encouraged dinarisation, but we know it is a long ride yet. We have embarked on it, and that is what counts.
The 1990s were a benign period, with oil not exerting significant global inflationary pressure. In contrast, oil prices have risen persistently over the past decade, aggravating demand-driven inflationary pressures in the period before the crisis and continuing to do that after a brief respite.