BIS central bankers’ speeches  Expanding the stance The second, specific challenge we have faced in the euro area has come when we needed to expand our monetary stance – specifically, when we shifted from interest rates as the main instrument of monetary policy to asset purchases via the APP.
More recently, the Debt Service Suspension Initiative (DSSI), which was endorsed by the Group of Twenty (G20) finance ministers and central bank governors on 15 April 2020, has come under renewed focus as a means to addressing the debt burden on the continent.18 The DSSI seeks to grant debt-service suspension to the poorest countries to mitigate the impact of the COVID-19 pandemic.