Unwinding the extraordinary measures was one of the messages highlighted during the IMF-Word Bank Spring Meetings held last April. Balancing the need to safeguard economic recovery and controlling inflation would be a key challenge for policymakers going forward. The balancing act requires a well-planned, well-calibrated, and well-communicated exit strategy to avoid causing substantial market volatility, reduce potential spillovers, and continue the recovery momentum.
What we have failed to do with respect to the implementation of structural reforms of the public and real sectors, with respect to privatisation or harmonisation of  2  BIS Review 19/2005  consumption with real possibilities and requirements of our country’s development, with respect to financial discipline at all levels, may not be compensated for by political yarns.