Exchange rate policy and global imbalances It is argued that the coexistence of complementary growth models may have contributed to the crisis. While many EMEs followed export-oriented growth models, major advanced economies followed debt fueled growth models which were not bound by external current account constraints.
*  *  *  I am very happy to join you at this workshop which is the result of the collaborative effort of BoG and MoFEP to enhance further the financial market in Ghana. Efficient and effective financial intermediation is crucial in any country’s development and it is imperative that the necessary infrastructure is put in place.