As envisioned, this centralized credit information bureau will improve the quality of financial information available to creditors; enhance credit access of institutions and individuals; lower interest rates and facilitate loan processing particularly for borrowers with good credit record; minimize exposure to risks of financial intermediaries; and lower intermediation costs that will benefit both the creditors and the borrowers.
When a few years ago it became clear that in some countries fiscal policies would not be able to meet the rules of the Stability and Growth Pact, it was not the policies that were changed but the Pact. This was clearly a mistake.