The tail risk that the European debt problem will lead to global financial market turmoil and a significant global economic downturn has decreased on the whole, although considerable uncertainty remains. The recent stability in prices of primary commodities is another positive factor (Chart 28).
Loi M Bakani: Challenges and developments for a sound and stable financial system in the Pacific region Opening remarks by Mr Loi M Bakani, Governor of the Bank of Papua New Guinea, at the Annual Meeting of the Association of Financial Supervisors of Pacific Countries (AFSPC), Port Moresby, 22–26 September 2014.