For our respective central banks, the challenge is to remain focused on our primary goal of maintaining low, stable and predictable inflation, in addition to improving efficiency in monetary management and the requisite infrastructure for transmission of monetary policy actions. We need to work on ensuring stability of the financial systems.
One way of addressing this problem is to strengthen the supervision of the banking sector, particularly with a view to reducing the level of non-performing assets in the books of commercial banks. It is incumbent upon us to ensure that appropriate institutions, technical capacity and legal frameworks exist to support the process.