The ability of ECCU member governments to assess, manage and service debt is critical to financial stability in the region and to achieving and sustaining their public sector debt target of 60.0 per cent of GDP by 2020.
Growth will be the only solution to the accumulation of public and private debt. Conclusion Let me conclude. Our monetary policy response to the pandemic has removed adverse tail risks, preserved very accommodative financial conditions in all parts of the euro area and leveraged complementarity with other policies.