In this regard, I intend to focus my remarks this morning on three related topics: I will start by examining the crises in Asia, which, along with the one in Mexico just a few years ago, provide the first evidence of how crises arise in the new system, especially the central role that banks play.
Conclusion The Bond Purchase Program was implemented by the Bank as part of a package of measures designed to provide insurance against very bad economic outcomes as a result of the pandemic. The Bank’s internal review of the program suggests that it broadly achieved its aims.