The Federal Reserve has never set an explicit numerical target for inflation. Chairman Greenspan has defined price stability as inflation so low and stable that it no longer affects the decisions of households and businesses. However, today, a growing number of governments have set explicit numerical targets for their central banks. A second broad issue has to do with transparency and disclosure.
The portion of funding (one-third) by commercial banks was fully guaranteed by the other participants. Due to high defaults the facility was closed several years ago. Another credit facility was the Global Loan Facility (GLF) of K12.0 million provided by the European Investment Bank (EIB) in 1991 that was  BIS Review 87/2006  3  fully guaranteed by the PNG Government.