Consolidating implementation of export-oriented, as well as capacity and productivity enhancing policies through reducing the costs of doing business in the African economies could assist entities to access domestic credit and reduce refinancing risks.
Furthermore, in this still incomplete EMU, the interaction between monetary and fiscal policies, their roles and limitations for macroeconomic stabilisation and the adequacy of the current Stability and Growth Pact are ever more at the forefront of the policy debate. All these issues need to be addressed. I have already underlined the importance of a coherent and sound legal and institutional framework.