In the event, even bank depositors have got exposed and as soon as information asymmetries became evident and credit ratings came to be regarded as inadequate, markets got frozen resulting in illiquidity for banks and erosion in depositor confidence with its consequential impact on financial markets, and monetary policy.
Current account of the balance of payments Progress on the current account of the balance of payments has also been evident over the past decade. The country was forced to maintain current account surpluses from the mid-1980s to 1994.