A second important factor working in our favour is the tight alignment of incentives on the part of countries that are exiting as well as those that are affected by the process. No one wants it to proceed in a disorderly manner, and no one should want the exit to occur too early or too late.
A third significant development from the perspective of EMDEs is the greatly improved circumstances in which these countries find themselves, in terms of their size and resilience. The impressive fiscal, financial and structural reforms that many of them have undertaken will put these economies in a far better position than they were 30, 20, or even 10 years ago.