Mr. Zahid Husain personified a kind of leadership that automatically commanded respect, and this was critical as he set out to lay the building blocks of governance institutions in the country after independence. In this day and age, we often take these pillars of the state for granted, while being nearly oblivious of the untiring efforts of our predecessors.
2  BIS Review 24/2005  equally necessary to ensure high and sustainable long-term growth and prosperity lie beyond the purview of monetary policy. They depend on sound fiscal policy and comprehensive structural reforms. These policies, in my opinion, are among the most powerful policy tools for addressing and preventing problems that may arise within a currency area.