Most of the surplus emerged from debt flows as the equity flows were impacted by outflows in SCRA restricting the net inflow to $ 124.4 million during July-21 to November 2007 and postponement of launching of new privatization.
However, some hold to a more pessimistic scenario that envisions smaller groups of market participants, with short time horizons and an excessive interest in mark-to-market profitability, who create more volatility because of their high sensitivity to the latest rumors and news.