Loi M Bakani: Economic overview and future developments in Papua New Guinea Statement by Mr Loi M Bakani, Governor of the Bank of Papua New Guinea, at the 2010 Annual Meetings of the International Monetary Fund and the World Bank Group, Washington DC, 8 October 2010.
With respect to Japan's quantitative easing, although the stimulative effects on economic activity through monetarist channels seemed to be self-evident in the eyes of quite a number of economists, the financial system perspective was not fully appreciated. However, looking back, the most important benefit of quantitative easing was its contribution to financial market and financial system stability through the provision of abundant liquidity.